Because of important national differences, a strong drive for harmonization of accounting standards has not yet been possible.

Question

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There has been a strong drive for harmonization of accounting standards globally, notably through the efforts of the International Accounting Standards Board (IASB) and the adoption of International Financial Reporting Standards (IFRS) by many countries to ensure consistency and comparability of financial information across borders.

Because of Important National Differences, a Strong Drive for Harmonization