Which of the following statement was not identified as a benefit of international harmonisation?
A) It was likely to increase the comparability of financial reports prepared in different countries.
B) It was likely to improve the quality of financial reporting in Australia to best international practice.
C) It was likely to reduce the reporting costs for Australia's not-for-profit entities and local governments.
D) It was likely to allow more meaningful comparisons of the financial performance and financial position of Australian and foreign public sector reporting entities.

Question

Quizplus · Accepted Answer

The statement "It was likely to reduce the reporting costs for Australia's not-for-profit entities and local governments" was not identified as a benefit of international harmonisation in the given options. The other statements A, B, and D were identified as benefits of international harmonisation.

Which of the Following Statement Was Not Identified as a Benefit