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Why should Africa adopt IFRSs? Adoption is less of the story.. not practicing what you preach is the bigger evil. In the past decade the rise in the use of the International Financial Reporting Standards IFRS  in many countries around the world has moved the wave towards developing countries considering adopting these standards. Factually, about 120 countries presently use IFRS across the globe. Out of this number about 13 countries in Africa have already adopted (i.e as issued by the IASB without any modification) or adapted (.i.e with modification to meet local socio-economic needs of a particular accounting jurisdiction) to IFRS.The map below indicates the diversity of accounting system classification in Africa. Primarily, former anglo-saxon colonies have adopted IFRSs whiles the Francophone,  Portuguese  and the Belgian former colonies are uninterested in IFRS. Data Source: PwC IFRS Jurisdiction map, own drawings However, it is quite surprising that Af...