Nadezhda Stepanova
Nadezhda Stepanova
Need for IFRS Enforcement
Setting universal financial reporting standards is not an easy task. The International Accounting Standards Committee (IASC) has gained an overall recognition as an efficient accounting standard setter since its formation in 1973. The IASC used to focus on setting IFRS. Now it is facing a new issue, i.e. finding the way of enforcing and achieving compliance with these standards.
The benefits of these Standards are obvious. IFRS-based...