(Answered) Discuss how you think international financial reporting

Accounting

Discuss how you think International Financial Reporting Standards (IFRS) are going to impact the auditing profession. How will you be prepared to conduct an audit of a company that has recently adopted IFRS? Are there any significant areas that you must focus on?

Describe at least two areas that may be impacted. How will you prepare yourself to address these areas in the role of an auditor? Support your response with at least one scholarly source.

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