Answer
a.
The "International Accounting Standards Board" is an international organization involved in developing a harmonized set of IFRS that can be used in the preparation of financial statements (General purpose). The IASB comprises four entities.
b.
High-grade and comparable financial reports can be produced when all companies across the globe follow uniform accounting standards.
c.
i. Dissimilar legislation
ii. Political interference
iii. Different political climates
iii. Diverse taxation policies
Work Step by Step
a.
The "International Accounting Standards Board" is an international organization involved in developing a harmonized set of IFRS that can be used in the preparation of financial statements (General purpose). The IASB comprises four entities.
b.
High-grade and comparable financial reports can be produced when all companies across the globe follow uniform accounting standards.
c.
i. Dissimilar legislation
ii. Political interference
iii. Different political climates
iii. Diverse taxation policies
