ACCT 1201 Chapter Notes - Chapter 1: Tax Avoidance, Professional Code Of Quebec, Double Taxation
13 Feb 2014
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Measurement rules used to develop the information in financial statements. This is why your textbook changes: gaap vs. ifrs, since 2002, there has been substantial movement toward the adoption of. International financial reporting standards (ifrs) issued by the. International accounting standards board (iasb develops ifrs): examples of jurisdictions requiring the use of ifrs either currently or by. 1: european union, australia and new zealand, hong kong, india, malaysia, and south korea. 4: brazil and chile, canada and mexico iii. In the united states, the securities and exchange commission now allows foreign companies whose stock is traded in the u. s. to use ifrs and is considering requiring the use of ifrs for u. s. domestic companies. Auditors: management responsibility - primary responsibility for the information in the financial statements lies with management, auditor responsibility some responsibility for the information in the financial statements.
