Frameworks and Standards Trends

All over the globe, accounting- and technology-related professional associations are collaborating on standards. Business practices vary significantly around the world, so a single set of frameworks and standards will not appear in the near future. However, these developing frameworks and standards generate discussions that do serve to clarify and provide understanding among disparate foreign bodies in the conduct of trade. While a single set of international standards is not imminent, the tools described in this chapter are nonetheless serving to bridge understanding and promote trade that ultimately benefits all the participants.