Locate instances where, in your opinion, the transparency or accountability of your government leaves a lot to be desired in Trinidad and Tobago. What were the causes? Would good government accounting have been part of the solution? provide references
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Locate instances where, in your opinion, the transparency or accountability of your government leaves a lot to be desired in Trinidad and Tobago. What were the causes? Would good government accounting have been part of the solution? provide references
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- Lawmakers should demand reform of government accounting standards?Which of the following actions is a reason for privatizing government services? Select all that apply. To increase production efficiency To raise cash To improve service to the public To assist with economic growth in developing nationsPresented below are three models for setting GAAP. The purely political approach, where national legislative action decrees GAAP The private, professional approach, where GAAP is set and enforced by private professional actions only The public/private mixed approach, where GAAP is basically set by private-sector bodies that behave as though they were public agencies and whose standards to a great extent are enforced through governmental agencies Questions Which of these three models best describes standard setting in the United States? Provide justification for your answer.
- NOTE: PLEASE TAKE YOUR TIME AND ANALYSE THE QUESTION VERY WELL. PROVIDE DETAILED INFORMATION ANSWERS AND INFORMATION AS YOU SOLUTION. THANK YOU. ‘To stall the rot in the public sector in Ghana, more value must be placed on the work of the internal auditors, than on the assurance works of external auditors including the Audit Service of Ghana’. Do you agree with this assertion? Support your answer with relevant considerations with the legal framework that governs the public sector accountability.Which of the following actions is a reason for privatizing government services? Select all that apply. To increase production efficiency To raise cash To improve service to the public To assist with economic growth in developing nationPresented below are three models for setting GAAP. 1. The purely political approach, where national legislative action decrees GAAP. 2. The private, professional approach, where GAAP is set and enforced by private professional actions only. 3. The public/private mixed approach, where GAAP is basically set by private-sector bodies that behave as though they were public agencies and whose standards to a great extent are enforced through governmental agencies. Instructions a. Which of these three models best describes standard-setting in the United States? Provide justification for your answer. b. Why do companies, financial analysts, labor unions, industry trade associations, and others take such an active interest in standard-setting? c. Cite an example of a group other than the FASB that attempts to establish accounting standards. Speculate as to why another group might wish to set its own standards.