However, according to Pricewaterhousecoopers, accounting manipulation represents an 11% of all the spanish frauds. This is a high percentage that shows that Spanish accounting regulation hasthe same problem as the English one has.
2) The are two points of view to answer this question.
On one hand, the IASB has a very important role in accountancy: They develop the standards that aregoing to be used in the future. Obviously, their role is a major factor in order to finish with corruption, due to the fact that the standards that are going to be applied will be created by them.This leads to the other side of the coin: It might be dangerous to leave the full responsibility of creating the standards that are going to be used in order to prevent fraud, to a private companywhich is being financed by the donations of banks and other large companies. These companies could be interested themselves in certain standards not to be developed. However, this is not likely tohappen due to the openness of the process and the control there is over the issue.
In conclusion, I think the IASB's role in the matter would be a good idea.
3) PwC would have probably found thefrauds, as it is their job to do so. It is a very large and experienced company with a great reputation which cannot afford these kind of mistakes. However, they have been involved several times inaccounting fraud scandals worth billions of dollars, such as the Satyam case, or the Tyco case. This shows that we cannot assure with 100% certainty that PwC would have found the fraud and done the...