B3. "If a number of accountants from different countries, or even one country, are given a set of transactions from which to prepare financial statements, they will not produce identical statements" (Nobes & Parker, 2008, Comparative International Accounting 10th ed., page 4). Required: Critically discuss whether the progress in harmonising international accounting standards has meant that this statement is no longer valid. [100 marks] [Time allowed: 1 hour]