CHAPTER ONEINTRODUCTION1.1 Background to the StudyInternational Financial Reporting Standards (IFRS) are standards by the InternationalAccounting Standard Board (IASB) to serve as a guide to companies for preparation offinancial statements that will give true financial and non-financial information (integratedfinancial reporting) to investors and other stakeholders who use them for economicdecisions (Brabec, 2014; de Villiers, ...
