Thus, due to the varying nature of business/services,
economic and financial considerations prevalent in each country, it is important to
accept that the process of harmonizing accounting standards is not an easy task
but indeed a complex and dynamic activity which can not be underestimated.
However, hard as it may seem, in an increasingly global market, harmonization
of accounting standards is the way forward if regulators are to succeed in
implementing national regulations.
Thus, due to the varying nature of business/services,economic and financial considerations prevalent in each country, it is important toaccept that the process of harmonizing accounting standards is not an easy taskbut indeed a complex and dynamic activity which can not be underestimated.However, hard as it may seem, in an increasingly global market, harmonizationof accounting standards is the way forward if regulators are to succeed inimplementing national regulations.
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