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IFAC Recommends Actions For International Accounting Standards

Compliance Week | September 28, 2004

Last week, the International Federation of Accountants released a study identifying the obstacles to adopting international financial reporting standards, achieving global convergence to international accounting and auditing standards.



Wong

The report, titled “Challenges and Successes in Implementing International Standards: Achieving Convergence to IFRSs and ISAs,” details the major challenges to international convergence, makes a case for why it’s necessary, and points out examples of successful adoption to serve as models for other countries.

Report author Peter...

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