Here are some key points on when the first IFRS standards were issued and their impact on global financial reporting:

1. The first IFRS standards were issued in 2003: The International Accounting Standards Board (IASB) issued the first set of IFRS standards in 2003, replacing the earlier International Accounting Standards (IAS).
2. The impact on global financial reporting was significant: The adoption of IFRS has had a significant impact on global financial reporting. It has led to greater transparency and consistency in financial reporting, making it easier for investors and other stakeholders to compare financial statements and make informed decisions.
3. IFRS is now used by more than 100 countries: IFRS is now used by more than 100 countries around the world, including the European Union, Australia, and Canada. Many other countries have adopted IFRS for their domestic reporting requirements or are in the process of doing so.
4. The benefits of IFRS for multinational companies: The adoption of IFRS has had significant benefits for multinational companies, making it easier for them to report their financial results across different jurisdictions. This has reduced the cost and complexity of financial reporting for these companies.
5. The challenges of adopting IFRS: While the adoption of IFRS has been generally positive, it has also posed some challenges for companies and regulators. For example, some companies have found it difficult to adapt to the new standards, and regulators have had to ensure that the standards are being implemented effectively and consistently across different jurisdictions.

Overall, the adoption of IFRS has had a significant impact on global financial reporting, leading to greater transparency and consistency in financial reporting and making it easier for multinational companies to report their financial results across different jurisdictions. While there have been challenges associated with the adoption of IFRS, the benefits have been widely recognized and are expected to continue in the future.