Ball (2006, p. 22) provides the following statement:

In the presence of local political and economic factors that exert substantial influence on local financial reporting practice, and in the absence of an effective worldwide enforcement mechanism, the very meaning of IFRS adoption and the implications of adoption are far from clear. In the enthusiasm of the current moment, the IFRS ‘brand name’ currently is riding high, and IFRS adoption is being perceived as a signal of quality. I am not sure how long that perception will last.

Provide an argument as to whether you are inclined to agree or disagree with Ball’s scepticism about the future ‘value’ associated with embracing IFRS.