Question

Discuss the factors that have contributed to the need for new approaches to international standard setting?

Answer 1

factor3_that have contributed to the need for new approaches to International standard setting Ž The probabilty that a developing country will Adopt International Allainting Standard (745) increases with Economis growth. → Developing countries with a high degree of erstemal economic openness will be more inclined to adopt Abo 7 They are adopted because of their quality, legitimaly and impact beave been demonstrated and focus on the public interest. my The main purpose to adopt Job is to ensure that the financial centers of the world, which hove become more interconnected than ever, cao While a Global Financial reporting framework that ensures effective regulation of financial markets. 7 Developing countries with mores Capital market and with Anglo-American Culture are more likely to adopt TAS