Adaptation of IAS to reflect the local environment provided a good starting point. However, since consensus and compromise are involved in the adaptation of IAS, much of the value of having conformity with IAS is lost. By adopting IASs, Mauritius can hope for a better reporting system that is useful for economic decision making within the country as well as fulfilling the requirements of international trade and business. These technological advances have contributed greatly to global interdependence. Hardly a week goes by without an announcement of yet another cross-border mega merger.
Shareholders appear to support cross border deals.
Regulators, by and large, seem to have few objections and consumers appear supportive. While most recognized markets are turning increasingly global, none equals the internationalization of financial markets. There is now an almost autonomous world economy of money, credit, and financial investments. 5.3 Developing High Quality Standards. There is also a need for high quality standards that meet the need of all participants in the world s capital markets.