ASSIGNMENT Explain briefly how these factors can influence the adoption of IFRS by a country. Extent of economic development Nature of domestic business ownership and financing systems Colonial...

ASSIGNMENT

Explain briefly how these factors can influence the adoption of IFRS by a country.

• Extent of economic development


• Nature of domestic business ownership and financing systems


• Colonial inheritance


• Cultural differences


• Legal systems


• Tax policies or laws


• Sources of funding


• Huge cost of developing own standards