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Should india adopt ifrs

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One reason given by the Chairman of the FASB for not continuing with the convergence project was that the inconsistent implementation across the world. Due to cultural, business, and economic differences in different countries and regions, it is challenging to achieve true comparability within IFRS. In January 2013, the Institute of Chartered Accountants in India set out their status regarding the convergence with IFRS.

Question 1: Should India adopt IFRS? Apply both the push factors and obstacles to full harmonization to the Indian situation and reach your own conclusion.

Reference no: EM132590080

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