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.

1. Introduction (Briefly describe what is IFRS and its need and what you are going to discuss in the report).
2. Discuss the likely reasons. Give each reason a suitable subtitle.
3. Discuss if the selected country has partnered with IASB to converge accounting standards.
4. Conclusion should flow from the main body of the report (point #2&3) and may have any recommendation.
5. References