International Accounting - Mod 1 Critical Thinking Assignment Option #2

The professional accounting bodies in many countries have taken, or are taking, steps to adopt IFRS/IAS.

Requirements:

1.Go to the website of a professional accounting body of your choice.

2.Prepare a 3-5 page report that outlines the steps this accounting body has taken so far to facilitate adoption of IFRS/IAS.

3.Evaluate the effectiveness and the implications of the steps taken in this adoption process in addition to potential challenges that may arise.