Help answer this please

LO15-2, LO15-3, LO15-5 CASE 15.2 Disclosure Requirements The International Organization of Securities Commissions (IOSCO) is a group of top securities administrators from about 50 countries. The Securities and Exchange Commission (SEC) is a member of IOSCO. IOSCO is a primary supporter of the internationalization of financial report- ing standards through the International Accounting Standards Board (IASB). At a recent meeting, a discussion of the pros and cons of internationalizing financial reporting standards included the following arguments Pro: Having the same accounting standards for external financial reporting for all securities markets will reduce misunderstandings and create comparable information. For example, investors ill be able to compare the financial reports of similar companies located in the United States with those located in China and decide where best to allocate their investments, One set of account- ing standards will also save corporations money because they will not need multiple sets of books to track their international operations Con: Requiring companies that list on all global securities exchanges to use the same external report ing requirements will mislead investors. For example, in countries where the majority of invest- ment funds come from banks in the form of long-term borrowing, debt to equity ratios will look very different than those of comparable U.S. firms. Accounting information must reflect its environment. Besides, as all business becomes global, reporting requirements will naturally evolve to what investors demand Instructions Write a one-page summary reflecting your opinion about the value of harmonizing accounting standards for global equity markets. Support your opinions by referencing comparable cross- country companies you have located on the Internet