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Global Standards for Exchange of Information
Globalization and Internet are leading the World towards global standards for exchange of information.
In communication, English is the global standard for exchange of information.
In accounting, International Financial Reporting Standards (IFRS) is the global standard for exchange of information.
In construction, MasterFormat
shall become the global standard for exchange of information.
According to Singapore Standards CP 93 : 2002, for adaptation of MasterFormat, over time, there should ideally be one or two universal standards applicable worldwide.
