CU *Question 3 A 2016 article by executive editors of Thomson Reuters ro icle by Alison Parker, CPA and Cheryl Hartfield, CPA, both ditors of PPC products for the Tax & Accounting business of Deuters reflects on the arguments for and against US companies nternational Financial Reporting Standards rather than US 10 of the arguments both for and against this development are as following International GAAP. TWO follows: Arguments for 1. IFRS provides a single global accounting language. 2. The US is currently well-represented in the IFRS standard-setting process with three seats on the 14-member IASB. Arguments against 1. Principles-based standards with a lack of industry-specific or transactional guidance may decrease the quality and consistency of reporting. biect to influence and inconsistent 2. The IFRS standard-setting process is potentially subject to by political forces, which could lead to conflicts and incor practices between jurisdictions. ework by the IASB in Required: DISCUSS whether the publication of the revised Framework ha March 2018 will be likely to persuade US standard setters that foll IFRS would lead to financial reporting of sufficient quality and rigo hat following CU *Question 3 A 2016 article by executive editors of Thomson Reuters ro icle by Alison Parker, CPA and Cheryl Hartfield, CPA, both ditors of PPC products for the Tax & Accounting business of Deuters reflects on the arguments for and against US companies nternational Financial Reporting Standards rather than US 10 of the arguments both for and against this development are as following International GAAP. TWO follows: Arguments for 1. IFRS provides a single global accounting language. 2. The US is currently well-represented in the IFRS standard-setting process with three seats on the 14-member IASB. Arguments against 1. Principles-based standards with a lack of industry-specific or transactional guidance may decrease the quality and consistency of reporting. biect to influence and inconsistent 2. The IFRS standard-setting process is potentially subject to by political forces, which could lead to conflicts and incor practices between jurisdictions. ework by the IASB in Required: DISCUSS whether the publication of the revised Framework ha March 2018 will be likely to persuade US standard setters that foll IFRS would lead to financial reporting of sufficient quality and rigo hat following