In the aftermath of the Satyam Scandal, Visiting Professor John West from North America asserted that there is an even more urgent need for developing countries to implement the "rules-based" approach to corporate governance rather than to keep to the existing "principles-based" ones.  

He also asserted accounting studies based on the behavioural research approach are superior to those of positive accounting and agency theories.

Required:

a.  Discuss to what extent you agree with Professor West's assertion on adopting the "rules-based" approach towards corporate governance in developing countries. Provide justifications for your view?
 

b.  Explain how the theoretical perspectives within positive accounting and agency theories differ from those within behavioural research in accounting?