IFRS Accounting Standards bring “Transparency” by enhancing the international comparability and quality of financial information. It has become very easy for investors to make economic decision based on Financial Statements.   IFRS Accounting Standards strengthen “accountability”. The information gap has been reduced between shareholders of organization and people who are responsible to maintain accounting. IFRS provide information that is needed to hold management to account.   UAE laws that promote IFRS adoption.   Article No. 27 of Chapter 2 of New Commercial Companies Law, Federal Law No. 2 of 2015 states that “The Company shall apply the International Accounting Standards and Practices upon preparing its periodical and annual accounts, to give a clear and accurate idea of the profits and losses thereof”.