Based upon the readings and the videos in this module, select one of the following questions to respond to for this module for your initial response. Try to pick a question of personal and/or of professional interest to you. Copy and paste the question you select in bold type as part of your initial response so that everyone can see your question choice.

Discuss the potential view that the costs of establishing and maintaining accounting standards enforcement bodies in every country around the world are likely, in most countries, to exceed the benefits. Why have several countries around the world recently introduced auditor oversight bodies? In your opinion, is this a positive or a negative development for the respective country capital markets and for the respective country auditing profession? Be specific.

Is it necessary to have a set of International Auditing Standards? Would it be better if the International Accounting Standards were allowed to be set by or be based upon U.S. auditing standards? Or perhaps International Auditing Standards should be set by the United Nations? In your opinion, is it perhaps easier for the world to reach an agreement on International Auditing Standards than it is for the world to reach an agreement on International Accounting Standards? Why or why not for each of the above individual questions? Be specific.

Be sure to support your statements with logic, arguments, and examples