Numerous countries, including Canada, have adopted IASB accounting standards.

Required
a. Explain the benefits of a common set of high- quality global accounting standards.
b. Outline the role of a country’s auditing profession in implementing a set of high- quality global accounting standards in that country.
c. Will high- quality global accounting standards and a strong audit profession lead to a uniform high quality of financial reporting across countries? Explain why or why not.