Here are some key points on how countries around the world have adopted and implemented IFRS and the impact on financial reporting in these countries:

1. Adoption of IFRS varies by country: Countries have adopted IFRS in different ways. Some countries have fully adopted IFRS as their national accounting standards, while others have adopted IFRS with modifications, and some have only partially adopted IFRS.
2. Greater consistency in financial reporting: The adoption of IFRS has led to greater consistency in financial reporting across different countries. This has made it easier for investors and other stakeholders to compare financial statements and make informed decisions.
3. Reduced costs for multinational companies: The adoption of IFRS has reduced the cost of financial reporting for multinational companies. Previously, companies had to prepare financial statements using different accounting standards for each country they operated in. With the adoption of IFRS, they can now use a common set of accounting standards across different countries.
4. Increased transparency: The adoption of IFRS has increased transparency in financial reporting. IFRS requires companies to disclose more information in their financial statements, which has improved the quality of financial reporting.
5. Challenges with implementation: Despite the benefits of IFRS adoption, implementation has not been without its challenges. 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.
6. Standardization of financial reporting: The adoption of IFRS has standardized financial reporting across different countries. This has made it easier for companies to raise capital in different markets and for investors to make informed investment decisions.

Overall, the adoption of IFRS has had a significant impact on financial reporting in countries around the world.

It has led to greater consistency, transparency, and standardization in financial reporting, making it easier for investors and other stakeholders to compare financial statements and make informed decisions.

While there have been challenges associated with implementation, the benefits have been widely recognized and are expected to continue in the future.