There are several benefits of International Financial Reporting Standards (IFRS), including:

1. Global adoption: IFRS is adopted by more than 100 countries around the world, making it a globally recognized set of accounting standards that companies can use to prepare their financial statements.
2. Enhancing comparability: IFRS provides a consistent framework for financial reporting, making it easier for investors and other stakeholders to compare the financial performance and position of companies across different countries and regions.
3. Improving transparency: IFRS requires companies to provide meaningful and relevant disclosures in their financial statements, promoting transparency and helping stakeholders make informed decisions.
4. Promoting accuracy and reliability: IFRS provides guidance on how to measure and report financial transactions and events, helping ensure the accuracy and reliability of financial statements.
5. Facilitating regulation: IFRS provides a basis for regulatory bodies to enforce compliance and ensure that companies are following the rules and guidelines for financial reporting.
6. Reducing costs: IFRS reduces the cost of preparing and auditing financial statements for multinational companies, as they only need to prepare and report their financial statements using a single set of accounting standards.
7. Increasing access to capital: Using IFRS can increase access to global capital markets, as investors and lenders are more likely to invest in or lend to companies that use globally recognized accounting standards.
8. Supporting sustainable development: IFRS promotes sustainability reporting, which can help companies identify and manage risks and opportunities related to environmental, social, and governance (ESG) issues.

Overall, the benefits of IFRS include enhanced comparability, transparency, accuracy, and reliability, as well as reduced costs, increased access to capital, and support for sustainable development.