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the IASB main objective is to develop a set of high quality standards for financial reporting...

the IASB main objective is to develop a set of high quality standards for financial reporting by companies at the international level. critically examine the possibility of achieving this objective

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IASB stands for International Accounting Standards Board. IASB is committed to developing a single set of high quality accounting standard that require transparent and comparable information in financial statements. More than 100 countries now approved and adopted for IFRS. This in itself proves that when all of these countries mandates that finacial statement need to be prepared on the basis of IFRS, that will meet the objective of having all the financial statement at the same principles, making it comparable with each other.

Thus, the possibility of achieveing this objective seems quite certain and can be seen in coming few years in reality.

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