Compliance to IASB standards is mandatory for countries to engage in international trade.

Name: Compliance to IASB standards is mandatory for countries to engage in international trade.
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Question

Quizplus · Accepted Answer

While it is recommended that countries adopt IASB standards for consistency and transparency in financial reporting, it is not mandatory. Implementing IASB standards is ultimately up to the discretion of individual countries and their respective regulatory bodies.

Compliance to IASB Standards Is Mandatory for Countries to Engage