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What are some of the implications of adhering to IFRS 1, First Time Adoption of IFRS, outside the financial statements?

What are some of the implications of adhering to IFRS 1, First Time Adoption of IFRS, outside the financial statements? Consider legal issues, IT systems issues, audit issues, internal control issues, and management issues in your responses. Pick one of the issues and be thorough in your initial response

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