Is IFRS bringing higher reporting quality to the table?

These days the great debate among users and preparers of financial reports is whether the set of International Financial Reporting Standards (hereafter IFRS) is the mana from heaven that brings greater comparability, reliability and relevance compared. Does financial reporting quality really improve after adopting IFRS? If so, should one single set of global accounting standards be used in today’s global capital markets? In this article, I will discuss a framework to analyze financial reporting quality and provide an answer to these questions.

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