DTF.com.au

discuss the prospects of a convergence or harmonization of national systems of accounting &financial reporting

what factors might be influential in promoting or inhibiting change

Public Comments

1. Harmonization or convergence is the concept of getting different countries' accounting systems to use the same rules. the growth of international business, many stocks trading in many countries' markets, and the need for investors to have consistent information all encourage convergence. On the other hand, countries that have well established accounting systems are reluctant to change or adopt systems that they consider inferior or too costly to implement.