IFRS Standards, or International Financial Reporting Standards, are a set of accounting guidelines developed by the International Accounting Standards Board (IASB) that aim to create a common financial reporting language for businesses globally. These standards are designed to improve the transparency, consistency, and comparability of financial statements across international borders, which is crucial for investors and stakeholders in assessing a company's performance. By aligning financial reporting practices, IFRS facilitates cross-border financing and investment, thus playing a significant role in financing international operations.
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