GLOBAL investors may soon be able to compare financial information across national boundaries as more countries, including Malaysia, converge towards one common standard in corporate financial reporting, but greater international collaboration is required to achieve this quickly, says an authoritative report that will be released worldwide today.
According to the GAAP Convergence 2002 report, an advance copy of which was made exclusively available to StarBiz yesterday, over 90% of a total of 59 countries surveyed are in the process of converging their national standards of financial reporting with International Financial Reporting Standards (IFRS).
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