International Accounting
5th Edition
ISBN: 9781260466492
Author: Doupnik, Timothy
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 11, Problem 9Q
To determine
Explain the manner in which auditors’ report vary in different countries.
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Students have asked these similar questions
How do differences in accounting controls and enforcement impact accounting reports prepared across different countries?
How might differences in presentation of comparative data under GAAP and IFRS affect adoption of IFRS by U.S. companies?
Which of the following accounting areas is NOT significantly affected by international activity?
a. overhead allocation
b. recognition principles
c. auditing standards
d. all are significantly affected
Chapter 11 Solutions
International Accounting
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- Explain how the purposes and principles of internal controls are different between accounting systems reporting under IFRS versus U.S. GAAP.arrow_forwardHow is U.S. GAAP accounting different from international accounting? What are the key differences? And what rationale drives these differences?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
- Audit working paper classification varies among auditing firms. TRUE OR FALSE? WHY?arrow_forwardHow 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_forward
- Identify a limitation to using ratio analysis when examining companies reporting under different accounting systems such as IFRS versus U.S. GAAP.arrow_forwardWhat 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_forward
- Why audits of our company performed by different auditors (internal, external, government). ?arrow_forwardWhat are the major differences in the auditors’ report for nonpublic and public entities?arrow_forwardWhich factor explaining why accounting practices differ across countries do you think is most important? Explain why.arrow_forward
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