Problem
Chand, Patel and Day (2008) contend that "comparability in financial reporting may be difficult to achieve across all countries even after adopting IFRSs."
1. Assess the extent to which the above statement is applicable to the four South Pacific countries studied? Provide examples to support your views.
2. Critically evaluate the costs and benefits of adopting IFRS. You can use any country you are familiar with to provide relevant examples of the costs/benefits of IFRS adoption.