John
There is virtually unanimous agreement that international
investment is generally good—good for the economy
of the country where the funds are invested, good
for the country where the funds originate, good for the
health of worldwide trade.
Accountancy plays a highly important role in international
investment decisions and in the operation of the
business enterprises created by such investments. As
by
\. Wilson
such investments have grown, so have the problems of
accountancy as it tries to cope with the differences in
practice from country to country. There is a definite need
for standardization of international accounting principles
and practices.
This troublesome subject has been under discussion
for many years. Variods congresses of accountants have
discussed it under a variety of titles. The unsolved prob-
