Questions from International Accounting

Q: What is the purpose of accounting harmonization in the European Union (

What is the purpose of accounting harmonization in the European Union (EU)? Why did the EU abandon its approach to harmonization via directives to one favoring the IASB?

Q: Why is the concept of auditing convergence important? Will international harmonization

Why is the concept of auditing convergence important? Will international harmonization of auditing standards be more or less difficult to achieve than international harmonization of accounting princip...

Q: Describe IOSCO’s work on harmonizing disclosure standards for cross-border offerings

Describe IOSCO’s work on harmonizing disclosure standards for cross-border offerings and initial listings by foreign issuers. Why is this work important to securities regulators around the world?

Q: What role do the United Nations and the Organization for Economic Cooperation

What role do the United Nations and the Organization for Economic Cooperation and Development play in harmonizing accounting and auditing standards?

Q: Distinguish between the terms “harmonization” and “convergence” as

Distinguish between the terms “harmonization” and “convergence” as they apply to accounting standards.

Q: Compare and contrast the following proposed approaches for dealing with international differences

Compare and contrast the following proposed approaches for dealing with international differences in accounting, disclosure, and auditing standards: (1) reciprocity, (2) reconciliation, and (3) int...

Q: Three solutions have been proposed for resolving the problems associated with filing

Three solutions have been proposed for resolving the problems associated with filing financial statements across national borders: (1) reciprocity (also known as mutual recognition), (2) reconciliatio...

Q: Exhibit 8-1 presents the Web site addresses of many major

Exhibit 8-1 presents the Web site addresses of many major international organizations involved in international accounting harmonization. Consider the following three: the International Federation of...

Q: What international reporting issues are triggered by AKZO NOBEL’s foreign operations disclosures

What international reporting issues are triggered by AKZO NOBEL’s foreign operations disclosures appearing in Exhibit 1-3 for investors? For managerial accountants?

Q: Exhibit 8-2 presents the Web site addresses of national accountancy

Exhibit 8-2 presents the Web site addresses of national accountancy organizations, many of which are involved in international accounting standard-setting and convergence activities. Required: Sel...