This book comprehensively examines the evolution and current trajectory of IFRS adoption across diverse economic regions. It delves into the reasons behind the global push for a unified reporting framework, examining both the opportunities it presents and the challenges it poses to regulators, businesses, investors, and policymakers. Special attention is given to the impact of IFRS on cross-border investment, multinational corporations, trade negotiations, and the financial integration of emerging markets.In this book, which consists of 24 chapters, I explain the evolution of standard-setting in accounting and the growing need for a unified global financial reporting language in the era of globalization and the digital economy, along with the impact of artificial intelligence on the profession. I hope this book serves as a useful guide for students and those interested in the field of accounting.