1 Choose an emerging country and research the strength of enforcement of financial accounting standards and reporting. Is there a lax attitude towards financial reporting, or weaknesses in the administrative mechanisms for enforcing standards? Is there government support or an inadequate level of organization for the accounting and auditing profession? S there an effective government or quasi-government agency that monitors compliance of pertinent regulations to discourage widespread violations of extant regulations?of pertinent regulations to discourage widespread violations of extant regulations?

2 Select ECM (emerging capital market) and research the differences in training and qualifications of local auditors, audit standards and requirements, nature of audit conducted, and the availability of auditors compared to those in your home country. Include in your analysis anything the country is doing to improve its current situation with respect to the audit function.

at least5 pa