Question: Q.1 In this chapter, we discuss problems encountered by the PCAOB in gaining access to inspect work papers of audits by US. international accounting firms

Q.1 In this chapter, we discuss problems encountered by the PCAOB in gaining access to inspect work papers of audits by US. international accounting firms of chinese companies. Explain why these problems exist, including cultural, legal and ethical coniderations.

Q.2 What are the costs and benefits of esatblishing one set of accounting standards (i.e IFRS) around the world? How do cultural factors, legal systems, and ethics influence your answer? Apply a utilirarian approach in making the anaysis.

( This question is derived from Ethical obligations and Decision Making in Accounting, chapter 8 discussion questions)

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