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Question 1 The international financial reporting standards (IFRS) are playing an increasingly important role in global financ
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Inmost cases the implementationof the IRFS results in an increase in the level of comparability between financial statement used by the investors.In malaysia,strting from 1st january it adopt a FRS to reflect malyasia with global accounting standards. So extra staff is not needed bevause everthing is already confirming to the internationally accepted standarsdfor accepting standards .so it is beneficial for them. One of the main challege is new FRS result in greater volaltility of company results.

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