Globalization of business investment and capital markets has kicked-off much before the 21st century. This has led to a demand for high-quality information by corporates in their financial statements. In grappling with this demand, many countries have imbibed International Financial Reporting Standards (IFRS) that have been approved by International Accounting Standard Board (IASB) for their corporate statements. At present, IFRS are required or accepted by over ...
