Abstract
We analyse the extent to which International Financial Reporting Standards (IFRS) have influenced the development of the national generally accepted accounting principles (GAAP) in the transposition of Directive 2013/34/EU in Malta including whether they are used as a reference point in the interpretation of the national GAAP. Malta mandated the use of IFRS by all companies for a significant number of years. This has resulted in IFRS influencing the development of the national GAAP; and enforcers and other key stakeholders viewing IFRS positively.