Which one of the following best describes the objective of the International Financial Reporting Standards...

to co-ordinate the accounting profession on a global scale by issuing and establishing international standards

to develop an International regulatory framework in the national jurisdictions of countries that produce accountants

to guide investors who compare the financial statements of one entity in one country with those of another entity located elsewhere

to promote the application, convergence and use of International Financial Reporting Standards (IFRS) as a high quality reporting solution