.... Two distinct epochs surfaced during Muammar Gaddafi’s rule: initially, the state advocated a centrally planned economy, but in the 1980s, an ideological shift occurred, which opened the Libyan economy to the global market. The first epoch saw the formation of accounting regulatory agencies consistent...

...Alfred Wagenhofer Purpose The enormous success of International Financial Reporting Standards (IFRS) in becoming globally accepted accounting standards leads to challenges in the future. The purpose of this paper is to outline challenges that arise from political influences and from the pressure...