Globally, there are variations in business laws, criminal laws and so forth. Such international variations in laws will be a result of differences in history, cultures, religions and so on. While we are apparently prepared to accept international differences in various laws, groups such as the IASB expect there to be global uniformity in requlations relating to accounting disclosure--that is, uniformity in accounting standards. Does this make sense?

Globally, there are variations in business laws, criminal laws and so forth. Such international variations in laws will be a result of differences in history, cultures, religions and so on. While we are apparently prepared to accept international differences in various laws, groups such as the IASB expect there to be global uniformity in requlations relating to accounting disclosure--that is, uniformity in accounting standards. Does this make sense?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA1: International Financial Reporting Standards

Section: Chapter Questions

Problem 2MCQ

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Similar questions

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Should U.S. public accounting firms try to audit internationally in cultures they may not understand? If so, how can they maintain quality audits?
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