High Traders Inc. is a private Canadian company. The company adopted accounting standards for private enterprises in 2011. However, a new CFO has just been hired and is now suggesting that the company consider adopting IFRS in the near future.
Required:
Outline four possible reasons that a private company in Canada might choose to adopt IFRS.

Question

High Traders Inc. is a private Canadian company. The company adopted accounting standards for private enterprises in 2011. However, a new CFO has just been hired and is now suggesting that the company consider adopting IFRS in the near future. 
Required:
Outline four possible reasons that a private company in Canada might choose to adopt IFRS.

Quizplus · Accepted Answer

The Answer of High Traders Inc. is a private Canadian company. The company adopted accounting standards for private enterprises in 2011. However, a new CFO has just been hired and is now suggesting that the company consider adopting IFRS in the near future. 
Required:
Outline four possible reasons that a private company in Canada might choose to adopt IFRS.