This study aims to examine the indirect effect of the IFRS adoption in increasing the foreign analysts following through the improvement of comparability of financial statements. This study argues that the IFRS adoption, among other factors, could attract more foreign analysts by reducing the information barriers. This study employs listed companies in 17 countries across Europe, Asia, Africa, and Australia with observation period from 2007 to 2012. Unlike previous studies, this study uses a continuous variable to measure the level of IFRS adoption which is measured at country level. This study includes countries that do not fully adopt the IFRS, partially adopt, make some delays in adoption or some modifications to IFRS. The results show that the level of IFRS adoption has positive effect on the comparability of financial statements. The level of IFRS adoption indirectly increases the foreign analysts following through the comparability of financial statements.