Develop a paper that explains the emerging role of international financial reporting standards and how it affects your particular organization. Your paper should assess the adequacy of implementing international standards in your firm.
The paper should be about 2 pages and describe some key issues in your company. Some of the questions to ask yourself include:
- Is IFRS being used in my organization?
- Why should I know about IFRS and how it benefits my role?
- Why is it important for my company?
In addition to financial reporting, IFRS conversion impacts core business issues. Which do you believe are the two most important aspects of an organization affected by IFRS implementation?