2. The IASC (1998), p50) states that 'many developing countries and newly industrialised countries are using International Accounting Standards as their national requirements or as the basis for their international requirements. These countries have a growing need for relevant and reliable financial information to meet the requirements both of domestic users and of international providers of the capital that they need'. Does the standardisation of accounting standards on global basis necessarily equate with a standardisation in accounting practice? Hint provide at least six reasons. (8 marks) Type your answer into the provided textbox. The textbox will automatically resize as you type. The size of this textbox is not indicative of the length of your