It is mandatory for companies that trade on a public stock exchange to use IFRS (International Financial Reporting Standards).

Question

Quizplus · Accepted Answer

It is true that companies that trade on a public stock exchange are required to use IFRS (International Financial Reporting Standards) for their financial statements. This is because IFRS is a globally recognized accounting standard that helps ensure consistency and comparability in financial reporting across international borders. It is also used by many countries around the world, including the European Union, Canada, and Australia, among others.

It Is Mandatory for Companies That Trade on a Public