Accounting for IGCSE & O level - Advanced Principles (Section 6 - No. 2)

What is the main goal of using international accounting standards?

To create identical financial statements for all companies globally.

To simplify the preparation of financial statements.

To improve the comparability and reliability of financial reporting across different countries.

To eliminate the need for local accounting regulations.

The goal is to enhance the comparability of financial information across the world.