International Accounting
5th Edition
ISBN: 9781259747984
Author: Doupnik, Timothy S., Finn, Mark T., Gotti, Giorgio
Publisher: Mcgraw-hill Education,
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Chapter 11, Problem 9Q
To determine
Explain the manner in which auditors’ report vary in different countries.
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what are disadvantages of national or international accounting uniformity?
Which of the following accounting areas is NOT significantly affected by international activity?
a. overhead allocation
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c. auditing standards
d. all are significantly affected
Explain how the purposes and principles of internal controls are different between accounting systems reporting under IFRS versus U.S. GAAP.
Chapter 11 Solutions
International Accounting
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- How is U.S. GAAP accounting different from international accounting? What are the key differences? And what rationale drives these differences?arrow_forwardAudit working paper classification varies among auditing firms. TRUE OR FALSE? WHY?arrow_forwardShould U.S. public accounting firms try to audit internationally in cultures they may not understand? If so, how can they maintain quality audits?arrow_forward
- How does auditing differ in the global environment? If the US publicly traded companies are required to have their financial statements audited by firms registered and inspected by the PCAOB, what are the implications if the foreign governments will not allow PCAOB inspectors into these audit firms?arrow_forwardHow do differences in accounting standards and regulations across countries pose challenges for the accurate and consistent analysis of international transactions, and what strategies can be employed to address these challenges?arrow_forwardIdentify a limitation to using ratio analysis when examining companies reporting under different accounting systems such as IFRS versus U.S. GAAP.arrow_forward
- What are some of the problems created by differences in accounting across countries and the reasons to develop a set of internationally accepted accounting standards?arrow_forwardHow do IAASB audit standards compare to US audit standards?arrow_forwardWhy audits of our company performed by different auditors (internal, external, government). ?arrow_forward
- Which factor explaining why accounting practices differ across countries do you think is most important? Explain why.arrow_forwardWhat are the functions of an external audit, according to the International Auditing and Assurance Standards Board?arrow_forwardWhat is the auditor’s responsibility for obtaining anunderstanding of internal control? How does that responsibility differ for audits of publicand nonpublic companies?arrow_forward
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