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Read “New IASB Leader Embraces Challenges” which can be accessed through the DeVry online library. Choose a country (Ecuador) that has already adopted IFRS.In 2-3 pages (12-pt type, double-spaced) answer the following questions:
- Describe the process that your selected country (Ecuador)went through to adopt IFRS, such as how long it took for the country to fully adopt IFRS.
- Did the country(Ecuador) adopt IFRS or did they make changes to IFRS to adapt to their country’s culture or regulations?
- Has IFRS adoption made it easier for companies in that country to access the capital markets?
- Based on your research regarding your selected country (Ecuador), should the US SEC mandate adoption of IFRS? Why or why not?
- What is your personal opinion regarding whether the US SEC should mandate the adoption of IFRS?