Ball (2006, p.17) makes the following statement comment: "In sum, even a cursory review of the political and economical diversity amongst IFRS adopting nations, and of their past and present financila reporting practices, makes the notion that uniform standards alone will produce uniform financial reporting seem naive" Q. Critically assess the validity of Ball's comments and discuss at five factors which lead to national differences in accounting. (Hint: different cultural dimensions as one factor) (25 marks)