1. Prepare a report on a country’s accounting system. Countries that might be selected for your report include: Australia, Austria, Belgium, Canada, China, Denmark, Egypt, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Hungary, Luxembourg, Mexico, Netherlands, Portugal, Singapore, Spain, Sweden, Switzerland, Turkey, United Kingdom, or other (if approved by your instructor).
The report must include the following information, at a minimum:
a. Brief history of the country and its cultural heritage.
b. Natural resources.
c. Form of government.
d. Major industries.
e. Exports and imports.
f. General relationship with the U.S.
g. Accounting and taxation issues, such as:
(1) What is the country’s primary source of GAAP (In the U.S., it’s FASB).
(2) The country’s attitude/record on corporate financial disclosure. How would
you compare it to the US attitude/record?
(3) Based on an examination of annual reports of business firms or of accounting
articles on the subject, what social, employment, or environmental disclosures
does the country require?
(4) What is the status of the auditing profession in the country, e.g. how are
auditors trained and regulated?
Please write about Mexico. AND ONLY COMPLETE g(3)
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