IFRS Accounting Standards addressed these challenges by providing one common reporting language—a high-quality, internationally recognized set of accounting standards that enable companies to provide efficient, cost-effective reporting that meets investors’ needs. IFRS Accounting Standards:

• bring transparency by enhancing the quality of financial information, enabling investors and other market participants to make informed economic decisions;
• strengthen accountability by reducing the information gap between investors and companies; and
• boost economic efficiency by helping investors to assess potential investments across the world, thus allocating capital to the most promising opportunities, and lowering the cost of capital for companies.