(b) Discuss how management’s judgement and the financial reporting infrastructure of a country can have a
significant impact on financial statements prepared under IFRS. (6 marks)
Appropriateness and quality of discussion. (2 marks)
正确答案：(b) Management judgement may have a greater impact under IFRS than generally was the case under national GAAP. IFRSutilises fair values extensively. Management have to use their judgement in selecting valuation methods and formulatingassumptions when deal
