As of January $2018,144$ countries have made the use of International Financial Reporting Standards $($IFRS$)$ standards as a requirement for financial reporting of domestic companies. It is a great achievement for IFRS, but still there are several countries that have not yet permitted the use of IFRS by domestic companies. Select any one of those countries and in a $2-3$ page report $($excluding title page and references$)$ in APA format analyze the likely reasons that prevent the selected country to permit the use of IFRS by domestic companies. See below for the recommended format of your report.

Introduction $($Briefly describe what is IFRS and its need and what you are going to discuss in the report$).$

Discuss the likely reasons. Give each reason a suitable subtitle.

Discuss if the selected country has partnered with IASB to converge accounting standards.

Conclusion should flow from the main body of the report $($point #$2$&$3)$ and may have any recommendation.

References