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Explain the eu objective in requiring the use of ifrs

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Reference no: EM131705125

Question: Since 2005, publicly traded companies in the European Union have been required to use IFRS in preparing their consolidated financial statements.

Required: a. Explain the EU's objective in requiring the use of IFRS.

b. Identify and describe two issues that might hamper the EU from achieving the objective underlying the use of IFRS.

Reference no: EM131705125

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