Although International Financial Reporting Standards (IFRSs) are being adopted in more and more jurisdictions there still seems to persist a feeling that there are different “flavours” of IFRSs around the world and the promised capital-market effects seem not to have materialised in every case and to the extent expected. Professor Christian Leuz of the Booth School of Business of the University of Chicago has done extensive research into the issue and allows us kindly to present his most recent research papers outlining a suggested new approach or ‘thought experiment’ in relation to convergence.