Internalization of markets and reporting

Markets now are coming from all over the over the world because of globalization.

Exchange of transactions and business dealings are now done anywhere and everywhere ignoring global barriers and constraints.

Especially now that almost everything can be transacted online via world wide web or internet.

With the internalization of markets, some businesses are raising capital and trade internationally with the intention of increasing the liquidity of their organizations.

Managing for financials and economics of the businesses became complicated because of various practices, different currencies, dissimilar tax laws and distinct political policies in different countries. Hence, one has to study these factors and the risks they bring in order to engage in business globally.
 
Now that everything is boundary-less, so is accounting.  Accounting regulatory bodies requires accounting practitioners to keep abreast with updates, interpretation and practice of International Accounting and Auditing Standards.

This is to assure greater confidence and reliability on the accounting information to be used by global investors so they can make a more rational and better business and investments decisions.