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Advantages of international harmonisation from different perspectives


Financial statements (local and international) are more comparable, allowing investors to potentially invest abroad

Multinational companies are able to:

  • Attract foreign investments
  • Comply with the reporting requirements of foreign stock exchanges
  • Easily prepare group financial statements
  • Reduce audit costs
  • Easily transfer employees between different countries


Can exercise improved control over foreign multinationals operating in their country as the companies are less able to hide foreign accounting practices

Revenue authorities (tax)

Tax liabilities of investors are easier to calculate

Large international auditing/accounting firms

Accounting and auditing are simpler as similar practices are used

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