Required Task:
Part A 1. Choose a country that has adoptedIFRSs (i.e. global accounting standards) for at least 3 or moreyears, as revealed in the accounting literature, and discuss thefollowing:
I. In what year did the country adopt IFRSs?
II. Were the IFRSs introduced all together (at once), orgradually into the local accounting standards of your chosencountry? Explain the possible reason.
III. Discuss the benefits and challenges reported in theliterature about the adoption of IFRSs in your chosen country.
Australian IFRS Adopted
