For Milestone Four, you will submit a draft of your International Financial Reporting Standards (IFRS) report. You will determine whether Trinity Industries is incompliance within the industry standards and aligned functionally with both efficiency and effectiveness of controls through the use of current audit and internalcontrol standards. State all assumptions and conclusions.Prompt: Prepare a report on Trinity?s compliance with industry standards.Specifically, the following critical elements must be addressed:V. IFRSa) What are the implications of a change in accounting standards? For example, what kinds of changes to data calculation and information reportingare likely to occur with a transition to a new standard?b) What changes will be required for Trinity to improve internal control compliance?c) What standards will affect Trinity as a result of IFRS?d) Discuss each infrastructure?s role in supporting a compliance project like IFRS:1. What constitutes Trinity?s governance infrastructure?2. What constitutes Trinity?s IT infrastructure?3. What constitutes Trinity?s process infrastructure?Guidelines for Submission: Your IFRS report must be submitted as a 1?2-page Word document with double spacing, 12-point Times New Roman font, one-inchmargins, and at least three sources cited in APA format.Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information

ACC 675 Milestone Four Guidelines and Rubric For Milestone Four, you will submit a draft of your International Financial Reporting Standards (IFRS) report. You will determine whether Trinity Industries is in compliance within the industry standards and aligned functionally with both efficiency and effectiveness of controls through the use of current audit and internal control standards. State all assumptions and conclusions. Prompt: Prepare a report on Trinity's compliance with industry standards. Specifically, the following critical elements must be addressed: V. IFRS a) What are the implications of a change in accounting standards? For example, what kinds of changes to data calculation and information reporting are likely to occur with a transition to a new standard? b) What changes will be required for Trinity to improve internal control compliance? c) What standards will affect Trinity as a result of IFRS? d) Discuss each infrastructure's role in supporting a compliance project like IFRS: 1. What constitutes Trinity's governance infrastructure? 2. What constitutes Trinity's IT infrastructure? 3. What constitutes Trinity's process infrastructure? Guidelines for Submission: Your IFRS report must be submitted as a 1-2-page Word document with double spacing, 12-point Times New Roman font, one-inch margins, and at least three sources cited in APA format. Instructor Feedback: This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions. Critical Elements IFRS: Change IFRS: Improve Proficient (100%) Needs Improvement (75%) Discusses the implications of a change in Discusses the implications of a change in accounting standards accounting standards but discussion is cursory or contains inaccuracies Determines changes required to improve Determines changes required to improve internal control compliance internal control compliance but determination is cursory or contains inaccuracies Not Evident (0%) Does not discuss the implications of a change in accounting standards Does not determine changes required to improve internal control compliance Value 24 24 IFRS: Standards Determines which standards will affect Trinity as a result of IFRS Determines which standards will affect Trinity as a result of IFRS but determination is cursory or contains inaccuracies IFRS: Role Discusses the role of the three groups in Discusses the role of the three groups in supporting a compliance project like IFRS supporting a compliance project like IFRS but discussion is cursory, contains inaccuracies, or does not discuss all three groups Articulation of Response Submission has no major errors related Submission has major errors related to to citations, grammar, spelling, syntax, or citations, grammar, spelling, syntax, or organization organization that negatively impact readability and articulation of main ideas Does not determine which standards will affect Trinity as a result of IFRS 24 Does not discuss the role of the three groups in supporting a compliance project like IFRS 24 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas Earned Total 4 100%