The purpose of this chapter is to review the consequences of IFRS adoption by reviewing circumstances under which the benefits and costs accrue to firms, countries and the world. Notwithstanding all issues raised about the consequences, IFRS adoption has had positive consequences and no wonder nearly 120 countries around the world and significant markets have adopted it. The chapter contributes to our understanding of the importance of IFRS and its effects and it is important to regulators and parties involved with world economic stability.
|Title of host publication||Economics and Political Implications of International Financial Reporting Standards|
|Editors||Efobi Uchenna, Matthias Nnadi, Sailesh Tanna, Francis Iyoha|
|Number of pages||19|
|Publication status||Published - 2016|