Impact of Different Legal Systems on IFRS Companies from many countries have moved to, or are in the process of moving to, IFRS. Evidence has shown that it is preferable to adopt IFRS on a wholesale basis (i.e., with no differences from the standards). This chapter shows how much the legal environment affects the accounting for shares. Different countries will have differing legal systems and environments, which may affect the accounting on a country-by-country basis.
Instructions
How should this situation be dealt with, in your opinion?