International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements. Go to www.ifrs.com Navigate this site or any other site to familiarize yourself with the resources pertaining to IFRS. Report five pieces of information pertaining to advantages, disadvantages, IASB, convergence, adoption, differences between GAAP and IFRS.