$1.$ State five $(5)$ reasons for the differences in national accounting standards

$2.$ What are International Financial Reporting Standards $($IFRSs$)?$

$3.$ Many countries are adopting IFRSs although they are not under compulsion to do so$.$ Some are however reluctant to adopt IFRSs. State and explain briefly five $(5)$ factors or reasons that may influence a country$$s decision to adopt IFRSs.

$4.$ IFRS are relevant to various stakeholders. State the relevance of IFRSs to each of the following stakeholders:

$$ Investors

$$ Multinational companies

$$ Governments

$5.$ State four $(4)$ main criticisms against the adoption of IFRSs in some countries.

$6.$ Ghana adopted IFRSs wholly in $2007,$ to replace the Ghana National Accounting Standards. State five $(5)$ benefits that the country is expected to derive from adopting these international standards.

$7.$ What are the objectives of the International Accounting Standards Board $($IASB$)?$

$8.$ Explain the relationship between the following international bodies: IASB, IASC Foundation, SAC and the IFRIC.

$9.$ Accounting standards are developed based on a well laid process to ensure they stand the test of time. Explain the standard setting process.