Global diversity in accounting standards makes comparison of financial results from companies in different countries problematic when evaluating investment opportunities in equity capital.  It is vital to establish uniform financial reporting regulation, because of the global nature of today’s capital markets and the significance of financial information required for investment decision making.  The International Financial Reporting Standards (IFRS) have been globally accepted by more than 100 countries as of 2016 to reduce the global diversity in accounting standards.  Australia implemented IFRS in 2005.  The purpose of the current study was to investigate the effects of the IFRS implementation on cross-listing of Australian firms and trading volume for the cross-listed Australian companies between 2002 and 2008.  The sample of companies included in this study were all Australian companies listed on the Australian Securities Exchange (ASX) as of January 1, 2002, which were still listed on the ASX as of December 31, 2008.  The test results based on the Australian cross-listed companies attest that implementing IFRS improves access to equity capital.