Globalized Professionals: The Rise Of GAAP

Globalized Professionals Student’s Name: Institutional affiliation: Globalized Professionals Globalized professionals have emerged in the recent years and their existence is associated with numerous benefits. For instance, this has led to the creation of global bodies such as the accounting body known as the GAAP which sets the standards of reporting accounting. The rise of GAAP, as a professional body, has led to high dependability in accounting because such professionals from any corner of the world can create and establish accounting by using the high accounting standards that have been put in place (Durocher, Gendron, & Picard, 2015). GAAP standard is universal and serves the interest of the public since it is established by an inter-professional body. The universal standards have led to increased efficiency in accounting as well as in capital market which is crucial in a country’s economy. The standards have also improved comparability of organizations, companies, and even countries using accountants from different countries through standard terms. Consistency has also been achiev...