Roberta Hernandez , CPA ,serves as controller of a U.S.-based company that has a significant portion of its operations in several South American countries. Certain government provision in selected countries require the company to file financial statements based on international standards .Roberta oversees the issuance of the company’s financial statements and asserts that the statement are based on international financial accounting standards; however, the standards she uses are not those issued by the International Accounting Standards Board