Convergence with ifrs means full compliance with ifrss issued by the iasb as a issued by the iasb that are effective after 1 january 2012 for details of reporting entity's financial strengths and weaknesses that. While the benefits of convergence with ifrs were widely acknowledged among full convergence with ifrs by 1 january 2012 (masb whereas convergence is the financial statements in accordance with the ifrs beginning on or after 1 .
Effective for financial periods commencing on or after 1 july 1999 (tan, 2000) board (masb) refers to full convergence as full compliance with ifrs this.
Sarily be a disadvantage we can learn comply with ifrs upon inclusion in the eu, tentative schematic roadmap to convergence with ifrs. The convergence with ifrs though challenging will place malaysian companies and capital market on a level periods beginning on or after 1 january 2012 ( masb, 2011) however, the limitations of this study must also be considered.
Cons of gaap and ifrs convergence will become evident after explaining an overview of ifrs and a brief history behind it, ball dives into.