International Financial Reporting Standards

International Financial Reporting Standards (IFRS) are a set of accounting rules developed to ensure that financial statements are consistent, transparent, and comparable across different countries. These standards help businesses and organizations present their financial performance and position in a way that investors, regulators, and other stakeholders can easily understand, regardless of where the company operates. By following IFRS, companies aim to enhance the reliability of financial reporting, which ultimately helps in building trust and facilitating international trade and investment.