Why do many companies follow IAS rules?

Many companies follow International Accounting Standards (IAS) to enhance transparency and comparability in financial reporting, which is crucial for attracting investors and ensuring regulatory compliance. Adhering to IAS helps businesses present their financial performance and position in a standardized format, making it easier for stakeholders to analyze and assess their operations. Additionally, companies operating in multiple countries benefit from IAS as it facilitates cross-border investment and reduces the complexity of dealing with different national accounting standards.