Question

Since 2005, publicly traded companies in the European Union have been required to use IFRS in preparing their consolidated financial statements. What is the EU's objective in requiring the use of IFRS

Answer 1

Comparability of Financial Statements in different jurisdictions

Step-by-step explanation:

The reason is that if the IFRC is successful in achieving this then it will help the investor to make more informed decisions and gain maximum out of the investment and all this is only possible by enhanced comparability of the financial statements in different jurisdictions.