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.
IMPORTANT: In preparing your work for Milestone 4, you are to answer the six questions down below. To ensure that you address each of the questions AND that I correctly evaluate your paper, you need to separate your paper into six parts using the question you are answering as your heading for that part of your paper. I cannot evaluate your paper unless you have labeled the requirements you are addressing using the labeling scheme below.
a) What are the implications of a change in accounting standards?
b) What changes will be required for Trinity to improve internal control compliance?
c) What standards will affect Trinity as a result of IFRS?
d1. What constitutes Trinity's governance infrastructure?
d2. What constitutes Trinity's IT infrastructure?
d3. What constitutes Trinity's process infrastructure?