Global adoption of International Financial Reporting Standards (IFRS) is thought to increase financial statement reliability and comparability. Although IFRS is required or allowed in over 130 nations, some countries modify IFRS as issued by the International Accounting Standards Board (IASB)”

1. Do you think that the quality of corporate reporting/disclosure has been improved after the adoption of IFRS since 2005 in Australia, European Union and other adopter countries?

2. What are the reasons for not adopting IFRS by the FASB in the US?

3. What are the current challenges faced by the IASB?

Answer rating: 100% (QA)

1 The excellence standard of corporate reporting and disclosure has i... View the full answer