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.

Answer rating: 100% (QA)

a Benefits of a common set of highquality global accounting standards Due to the adoption of highquality accounting standards earnings of the employee... View the full answer