You have been approached about doing a consulting job for Choi Hung Company, which is based in southern China. Choi Hung reports its financial results using International Financial Reporting Standards. The consulting job involves sorting through Choi Hung’s purchases and sales of investment securities for the past three years to make sure that the reported results are in conformity with international standards. An acquaintance has advised you not to take this consulting job because “you are trained in U.S. GAAP and don’t know anything about international standards.” How might you respond?