In considering the relevance of IFRS to developing countries, Chand and White (2007, p. 606) state:...

 

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In considering the relevance of IFRS to developing countries, Chand and White (2007, p. 606) state: "While the forces of globalisation and convergence are moving accounting practices towards a unified, or at least harmonised regulatory framework for financial reporting, this is unlikely to best serve the diverse interests of disparate user groups of financial reports." In your essay, explain the following; a) b) Explain why is IFRS mainly of relevance to developed countries (as opposed to developing countries)? [make references to Chand & White to support your answers] Chand and White (2007) consider the ownership and financing systems that are common in Fiji and argue that the recent adoption of IFRS in Fiji has created a level of inefficiency not previously experienced. Explain the basis of this argument. In considering the relevance of IFRS to developing countries, Chand and White (2007, p. 606) state: "While the forces of globalisation and convergence are moving accounting practices towards a unified, or at least harmonised regulatory framework for financial reporting, this is unlikely to best serve the diverse interests of disparate user groups of financial reports." In your essay, explain the following; a) b) Explain why is IFRS mainly of relevance to developed countries (as opposed to developing countries)? [make references to Chand & White to support your answers] Chand and White (2007) consider the ownership and financing systems that are common in Fiji and argue that the recent adoption of IFRS in Fiji has created a level of inefficiency not previously experienced. Explain the basis of this argument.

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Answer A The International Financial Reporting Standards IFRS are accounting standards that are issu... View the full answer