(a) Earnings Management has been identified as an area of potential financial fraud. Discuss the ethical issues in relation to earnings management and the various strategies used to mitigate this problem. (20/100 marks)

(b)The revised Conceptual Framework for Financial Reporting (Conceptual Framework) issued in March 2018 is effective immediately for the International Accounting Standards Board (Board) and the IFRS Interpretations Committee. Explain the role and purpose of the International Accounting Standards Boards (IASB) Conceptual Framework and outline the principle contents of the document (10 marks)