Perspectives on the Global Application of IFRS

A February 2007 report by the Forum of Firms, an organization affiliated with the International Federation of Accountants (IFAC), found that firm needs and processes related to International Financial Reporting Standards (IFRS) vary greatly depending on firm size and number of IFRS clients. The report, Perspectives on the Global Application of IFRS, was based on interviews with 10 international accounting firms. The document illustrates progress made with IFRS and sets out examples of good practices firms are implementing.