The business world is globally connected. It’s no easy task to run the numbers on companies that cross borders, and differences between International Financial Reporting Standards (IFRS) and the Generally Accepted Accounting Principles (GAAP) used in the United States complicate matters. In this episode of Inspiring Minds, Angela Chen ‘17 VSB talks with Lucy Chen, PhD, Associate Professor, Accounting & Information Systems, about the ways that the two standards affect audit costs and the assessment of a company’s financial health, as well as how macroeconomic trends influence global accounting principles.

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