16. Numerous countries, including Canada, have adopted IASB accounting standards.

Required

a. Explain the benefits of a common set of high-quality global accounting standards.

b. Outline the role of a countrys auditing profession in implementing a set of high-quality global accounting standards in that country.

c. Will high-quality global accounting standards and a strong audit profession lead to a uniform high quality of financial reporting across countries? Explain why or why not.