Which is the primary concern over the adoption of IFRS?
A)The effect on smaller public companies
B)The effect on bigger public companies
C)The effect on smaller private companies
D)The effect on bigger private companies

Question

Quizplus · Accepted Answer

The primary concern over the adoption of IFRS is its effect on smaller public companies. Small companies may not have the resources to comply with the new standards and may face difficulties in financial reporting, leading to higher costs and potential negative impact on their business. On the other hand, larger companies often have more resources to adapt to the changes, thus making the effect less significant. Private companies are not required to follow IFRS, so their concerns are not a primary concern.

Which Is the Primary Concern Over the Adoption of IFRS