4 Increasingly the accounting standards adopted in the United Kingdom are not being developed by the Accounting
Standards Board (ASB) but are developed by the International Accounting Standards Board (IASB) and incorporated into UK Generally Accepted Accounting Practice (UK GAAP). Accounting Standards published recently have been closely aligned to International Financial Reporting Standards (IFRSs). The role of the ASB has changed from developing UK GAAP to implementing IFRSs. Required: (a) Explain whether consistency between UK GAAP and IFRS is important. (7 marks) (b) Discuss whether the alignment of recent Financial Reporting Standards (FRSs) to IFRS has led to greater inconsistency between financial statements. (10 marks) (c) Discuss how management judgement and the regulatory framework can have a significant impact on the confidence placed in financial statements. (6 marks) Appropriateness and quality of discussion (2 marks) (25 marks) 本部分内容设定了隐藏,需要回复后才能看到 |
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