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Chand, Patel and Day (2008) contend that comparability in financial reporting may be difficult to achieve across all countries even after adopting IFRSs. b. Critically

Chand, Patel and Day (2008) contend that "comparability in financial reporting may be difficult to achieve across all countries even after adopting IFRSs."

b. Critically evaluate the costs and benefits of adopting IFRS. You can use any country you are familiar with to provide relevant examples of the costs/benefits of IFRS adoption. (7 marks)

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