Similarly, investors are increasingly becoming more interested in investing in
foreign and intercontinental businesses. As a result, securities regulators around
the world face the challenge of meeting the needs of all market participants, maintenance of investor protection and promotion of market integrity.3 In order to
promote investor protection and ensure market confidence, securities regulators
do promote the principle of full disclosure. For the purpose of achieving full
disclosure and indeed, as a way of acknowledging the change in the business
environment, it seems the government and policy makers have come to
accept/appreciate the importance of international accounting standards in the
regulation of securities markets.