A regulatory framework is
needed to ensure relevant and reliable information is given to users
DipIFR syllabus
Why the IFRS are needed 1 / 5
A regulatory framework is
needed to ensure relevant and reliable information is given to users
A regulatory framework regulates
the behaviour of companies towards their investors
They increase users’ understanding of, and their confidence, in financial statements (FSs)
A regulatory framework regulates
the behaviour of companies towards their investors
They increase users’ understanding of, and their confidence, in financial statements (FSs)
Benefits of adopting IFRS
1) They are high-quality and transparent global standards that are intended to achieve consistency and comparability
Benefits of adopting IFRS
1) They are high-quality and transparent global standards that are intended to achieve consistency and comparability
Benefits of adopting IFRS
2) Companies that use IFRS and have their FSs audited in accordance with International Standards on Auditing (ISA) will have an enhanced status and reputation
Benefits of adopting IFRS
2) Companies that use IFRS and have their FSs audited in accordance with International Standards on Auditing (ISA) will have an enhanced status and reputation
Benefits of adopting IFRS
3) The International Organisation of Securities Commissions (IOSCO) recognise IFRS for listing purposes
Thus companies that use IFRS need produce only one set of FSs for any securities listing for countries that are members of IOSCO.
Benefits of adopting IFRS
3) The International Organisation of Securities Commissions (IOSCO) recognise IFRS for listing purposes
Thus companies that use IFRS need produce only one set of FSs for any securities listing for countries that are members of IOSCO.
Benefits of adopting IFRS
4) Companies that own foreign subsidiaries will find the process of consolidation simplified if all their subsidiaries use IFRS
Benefits of adopting IFRS
4) Companies that own foreign subsidiaries will find the process of consolidation simplified if all their subsidiaries use IFRS
Benefits of adopting IFRS
5) Companies that use IFRS will find their results are more easily compared with those of other companies that use IFRS
This would help the company to better assess and rank prospective investments in its foreign trading partners
Benefits of adopting IFRS
5) Companies that use IFRS will find their results are more easily compared with those of other companies that use IFRS
This would help the company to better assess and rank prospective investments in its foreign trading partners