Principles based accounting standard

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a. Fraud has always existed, but some would argue that attitudes toward fraud may be changing. What are your thoughts on this very broad question?

b. Some believe that the public sector is so corrupt in some countries that bribery should just be considered a cost of doing business in those locations. What are your thoughts on this statement?

c. It is generally argued that IFRS is more of a "principles based" accounting standard in contrast to U.S. GAAP which is considered more "rules based." Which standard do you believe is easier to manipulate for "earnings management" purposes? Explain.

Reference no: EM133197506

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