The ACCA report "Does IFRS Convergence Affect Financial Reporting Quality in China?" examines the impact of China's adoption of International Financial Reporting Standards (IFRS) on financial reporting quality. The report finds that the adoption of IFRS has led to improvements in financial reporting quality in China, as companies have had to adhere to a higher standard of accounting. However, the report also notes that the adoption of IFRS has been slow and has faced challenges, including a lack of understanding and resources among companies and the accounting profession. Overall, the report suggests that while IFRS adoption has improved financial reporting quality in China, more work is needed to ensure that the benefits of IFRS are fully realized.
