Jacques Ren Chirac is the CFO of Jane and Johnson Group (JJG). JJG is a French Fragrance

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Question:

Jacques René Chirac is the CFO of Jane and Johnson Group (JJG). JJG is a French Fragrance company. Jacques does not understand why he should care about differences between the international financial reporting standards in various countries because he only works for a domestic French Company. He feels it is a huge waste of time and does not care about differences from country to country.

Required:

a. Are there merits to his argument?

b. Why might he be wrong? What would you tell him to help him change his attitude?