2. "The adoption of International Financial Reporting Standards (IFRS) is supported in many countries because it may improve the quality and international comparability of financial reporting. However, these goals are less likely to be achieved without regulatory oversight that promotes vigorous and consistent use of IFRS." (Brown and Tarca, 2005) 

Required: With reference to the appropriate literature, critically assess the role of monitoring and enforcement in influencing companies' compliance with the requirements of IFRSs

Answer rating: 100% (QA)

The quote provided highlights the potential benefits of adopting International Financial Reporting Standards IFRS in terms of improving the quality and international comparability of financial reporti... View the full answer