International Financial Reporting Standards (IFRS) and Fraud Introduction The purpose of International Financial Reporting Standards (IFRS), according to Nobes and Zeff (2008), is to ensure that within the environment of pan-global trading and markets, companies have the ability to adopt a straightforward accounting methodology by which they can be compared to others and thereby decrease fraud. In addition, both United States (US) securities regulators and the International Organization of Securities Commissions (IOSCO) believe that there will be incremental benefits to investors of clarity on this subject. Incorporating IFRS and Generally Accepted Accounting Principles (GAAP), for example, will allow the best of both worlds, in that, as...The end:
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