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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.

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Accounting Basics, Accounting

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