A presenter at the CalCPA’s Accounting and Auditing Conference on April 25, 2017 said IFRS has been adopted by over 120 countries, essentially every country on the planet with the holdout exceptions of:
The inference is the overwhelming majority of the stocks in the world are reported on a consistent basis.
The US is the main stubborn hold out. He suggests China is holding back to see what the US does. Ripple effect is that if the US continues to hold out, China will too. If we adopt, China will too.
There is still the uncomfortable reality that each country chooses which aspects of IFRS to adopt or reject.
Apart from that precisely-consistent-across-the-planet idea, the comment that only a few countries have not adopted and eeeeevryone else is doing it makes it sound like most stocks are reported on IFRS.
That isn’t the case.