The IFRS Challenge

There’s no longer any doubt: International Financial Reporting Standards (IFRS) are coming down the pipeline. The business and accounting press are full of news about IFRS, and businesses are realizing they need to pay attention.

Over 100 countries now require or permit IFRS reporting, including Hong Kong, Malaysia, Australia, India, Pakistan, Turkey, Singapore, Russia, South Africa, and also the European Union and the Cooperation Council for the Arab States of the Gulf.