Implementation of international financial reporting standard's among BRICS countries

The main objective of the article is to study International Financial Reporting Standard's implementation among BRICS countries. Sample of BRICS countries in both adopting and converging process, BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa. A questionnaire designed based on extracted data which is given directly through the IASB web site to find out the rate of implementation of International Financial Reporting Standard's among BRICS countries and its reliability tested by using Cronbach's Alpha. According to our finding we absorbed that two country are in convergence process means India and China and tree countries are already adopted like Russia, Brazil and South Africa it means 60% in adoption and 40% in convergence.