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It is argued that even after a decade-and-half long period of their being “adopted” in Europe, the “convergence” to the International Financial Reporting Standards (IFRSs) remain challenging for many countries outside Europe.
You are required, considering the above claim, write an ESSAY of about 1125 word- length discussing critically why this has been the case. To make your essay more focussed in orientation, you may choose any ONE of the following countries discussing clearly why there remains significant challenges for the country you chose to fully converge to the IFRSs. For a coherent writing, you may wish to consider the following critical factors (1) Culture and Religion, (2) Economic history, (3) Political motivation, and (4) Business and or Financial Markets from a regulatory perspective;