THE IFRS ADOPTION MOUNTAIN: WILL WE EVER REACH THE TOP?

Abstract

Today, the International Financial Reporting Standards (IFRS) website contains a summary of IFRS usage in 146 countries (also referred to as jurisdictions). In the analysis that follows, each country is first classified by adoption status, and then listed in GDP order. This arrangement adds insight into why some countries have adopted IFRS completely, why some countries have not, and why we will not see all countries in the world using the same set of common financial reporting standards in any time soon.