Essay Problem: IFRS in China
• What are the benefits to China from adopting IFRS?
• How do you think China should proceed with its IFRS policy? In particular, is IFRS "convergence" a better model for China than full adoption?
• As an investor in China, what concerns, if any, will you have with financial reports prepared under China's IFRS-based standards? What steps would you want put in place to address those concerns? In other words, what do we need to make international accounting ‘work' in China?"
• What are the implications of this China scenario for the nature of IFRS globally? How should we think about setting accounting standards globally? What does it mean for a country to "adopt" IFRS?
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.