When Should Entrepreneurs Consider Implementing IFRS?
While small startups might not need to adopt IFRS immediately, it becomes increasingly important as the business grows or seeks external funding. Key milestones where IFRS adoption might be considered include:
- Seeking Investment: When preparing for a funding round, especially from international investors. - Planning for IPO: If you are considering listing your company on a stock exchange. - Entering Global Markets: When expanding operations to countries where IFRS is required or preferred.