INTERNATIONAL ISSUES IN ACCOUNTING AND AUDITING

This course provides an in-depth critical evaluation of the interplay between International Financial Reporting Standards (IFRS), and International Auditing and Assurance Standards (IAAS), within its historical, socio-economic, political and ethical context. The European Economic Crisis and the evolving Austerity measures, the Currency Exchange Wars, Leveraging and Fair-Value measurement, the US-International convergence challenge, the monopoly by the Big 4 Oligarchs, the evolving global pension crisis, and the implications of new innovations, such as: Internet of Things (IoT), RFID and Nanotechnology for cost control and investment - will provide the context within which some of the following topics will be examined in this lecture series: (a) The interconnected instability of global financial markets, that confronts regulators and practitioners when setting IFRSs and IAASs, and (b) The technical implications of such instability will be examined and illustrated using a number of professional practice problems.