QUESTION 3:

Nobes (1998) suggests that for countries that have organisations that rely relatively

heavily on equity markets, as opposed to other sources of finance, there will be a greater

propensity for such organisations to make public disclosures of information. Evaluate

this argument.

QUESTION 4:

Evaluate how reasonable it is to assume that the inflow of foreign investment into

Australia would have been restricted if Australia, through the decision of the Financial

Reporting Council, had not made the decision to adopt IFRSs from 2005.