Identify the nature of the accounting system used in the country

You are required to prepare an academic essay considering the following: Select one of the following countries: • Egypt Tasks: ➢ Identify the nature of the accounting system used in the country and give supporting evidence to justify the reasons for your decision. ➢ Explain any differences between the accounting standards/system used in the country under review and International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). ➢ Critically discuss whether you believe these differences cause major issues from the viewpoint of global stakeholders. ➢ Evaluate whether the current position, and any near future changes are likely to lead to issues regarding the country achieving full convergence with IFRS as issued by the IASB.

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