PROMPT
Prepare a report on Trinity’s compliance with industry standards.
Specifically, the following critical elements must be addressed:
- IFRS
- What are the implications of a change in accounting standards? For example, what kinds of changes to data calculation and information reporting are likely to occur with a transition to a new standard?
- What changes will be required for Trinity to improve internal control compliance?
- What standards will affect Trinity as a result of IFRS?
- Discuss each infrastructure’s role in supporting a compliance project like IFRS:
- What constitutes Trinity’s governance infrastructure?
- What constitutes Trinity’s IT infrastructure?
- What constitutes Trinity’s process infrastructure?
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