Indicate whether the use of IFRS or ASPE is required or more likely for the following entities:

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Expert Solution

Private bank - IFRS required since publicly accountable enterprise

Private company many shareholders – ASPE since less costly unless shareholders request IFRS

Private company major competitor public company – IFRS more likely since would be more comparable to their competitor

Government business enterprise - IFRS required since publicly accountable enterprise

Private company intends to go public – IFRS more likely since will be required when go public

Junaid answered 8 months ago

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