International Reporting Standards

International Reporting Standards, often called International Financial Reporting Standards (IFRS), are a set of globally recognized rules for preparing and presenting financial statements. They ensure transparency, consistency, and comparability of financial information across different countries and companies. This helps investors, regulators, and other stakeholders make informed decisions by providing clear and reliable financial reports. Developed by an international organization, IFRS aims to unify accounting practices worldwide, making it easier for businesses to operate and raise capital in international markets.