The IASC (1998, p. 50) stated that ‘many developing and newly industrialised countries are using International Accounting Standards as their national requirements, or as the basis for their national requirements. These countries have a growing need for relevant and reliable financial information to meet the requirements both of domestic users and of international providers of the capital that they need’, Do you think that IASs/IFRSs will provide ‘relevant and reliable information’ that meets the needs of all financial statement users in all countries?