Based upon the readings and the videos in this module, select one of the following questions to respond to for this module for your initial response. Select a question of personal or professional in

  Based upon the readings and the videos in this module, select one of the following questions to respond to for this module for your initial response. Select a question of personal or professional interest to you. Copy and paste the question which you select in bold type as part of your initial response so that everyone can see your question choice.

1. Discuss      the view that the costs of establishing and maintaining accounting      standards enforcement bodies in every country around the world are likely,      in most countries, to exceed the benefits. Why have several countries      around the world recently introduced auditor oversight bodies? In your      opinion, is this a positive or a negative development for the respective      countries’ capital markets and for the respective countries’ auditing      profession? Be specific.
2. Is it      necessary to have a set of International Auditing Standards?      Would it be better if the International Accounting Standards were allowed      to be set by or be based upon United States auditing standards? Or perhaps      International Auditing Standards should be set by the United Nations? In      your opinion, answer whether it is perhaps easier for the world to reach      an agreement on International Auditing Standards than it is for the world      to reach an agreement on International Accounting Standards. Why or why      not for each of the above individual questions? Be specific.

Chen, C., Young, D., & Zhuang, Z. (2013). Externalities of mandatory IFRS adoption: Evidence from cross-border spillover effects of financial information on investment efficiency. Accounting Review, 88(3), 881-914.

Kleinman, G., Lin, B., & Palmon, D. (2014). Audit quality: A cross-national comparison of audit regulatory regimes. Journal of Accounting, Auditing & Finance, 29(1), 61-87.

Sharif, R., Ji, S., Beekmann, K., & Steinberg, H. (2017). Accounting and cultural differences in Mexico, Sweden, South Korea, & the USA. Allied Academies International Conference: Proceedings of the Academy of Accounting & Financial Studies (AAFS), 22(1), 38-42.

Cieslewicz, J. K. (2014). Relationships between national economic culture, institutions, and accounting: Implications for IFRS. Critical Perspectives on Accounting, 25(6), 511-528. doi:10.1016/j.cpa.2013.03.006

Domnişoru, S., & Goagără, D. (2014). Critical analysis of national and international accounting regulations on transactions with business entities. Young Economists Journal / Revista Tinerilor Economisti, 11(22), 43-48.

Ernst & Young Foundation. (2017). The Impact of IFRS on the audit function - lecture notes. 

Oana, C. A., & Tatiana, D. (2013). Convergence of International Audit Standards and American Audit Standards regarding sampling. Annals