Public companies that trade on the stock exchanges are required to follow the IFRS.

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The International Financial Reporting Standards (IFRS) are a set of accounting principles used by companies to prepare and present their financial statements. Public companies that trade on the stock exchanges are required to follow the IFRS in many countries, including Europe, Australia, and Canada. However, in the United States, public companies generally follow the Generally Accepted Accounting Principles (GAAP) instead.

Public Companies That Trade on the Stock Exchanges Are Required