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All Of The Following Are True Regarding Ifrs Except:

IFRS includes standards referred to as International Auditing Standards (IAS). The adoption of IFRS by U.S. Companies would make it easier to compare them with foreign companies. IFRS is more "principle-based than U.S. GAAP". IFRS are developed by the IASB.
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IFRS includes standards referred to as International Auditing Standards (IAS).

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