International Financial Reporting Standards (IFRS) are a set of accounting rules designed to make financial statements consistent and transparent across different countries. These standards help businesses, investors, and regulators understand financial information in a uniform way, making it easier to compare companies globally. By using IFRS, companies can provide a clearer picture of their financial health, which is essential for attracting investment and ensuring trust. Adopted by many countries around the world, IFRS is developed and maintained by the International Accounting Standards Board (IASB). This organization works to improve the quality of financial reporting, ensuring that it meets the needs of users, such as investors and creditors.