Fernbach: IFRS: Challenge and opportunity for Asia’s financial sector

Asia has recently been making financial news headlines for good reasons. To the south of the continent, the Asian Development Bank is assisting Sri Lanka’s financial industry in implementing IFRS for accounting purposes. This development will, undoubtedly, strengthen the country’s position on the international capital markets.

Further afield in Maritime Southeast Asia, Singapore’s Accounting Standards Council has announced that all companies on the Singapore Stock Exchange “must apply a new

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