Discuss the necessity of International Financial Reporting Standards (IFRS) for enterprises operating in the modern globalised business environment.

 Guidelines

1. Word Count: Keep your answer within 100 words (+/-10%, excluding references).

2. References: All arguments must include fully cited references to academic journals, professional accounting bodies, or regulatory reports to maximise your grade.

3. AI Usage Disclosure: If generative AI is utilised, you must explicitly state which AI tool was used and its exact purpose (e.g., "AI Tool: [Name] – Used strictly for grammatical proofreading and reference formatting")