Question:Identify and explore the tensions that exist between the applications of international financial reporting standards designed to improve financial reporting quality and earnings management designed to avoid corporation tax liabilities. Set your considerations against the drivers for and nature of corporate social responsibility. Articulate your conclusions in the context of advice you would offer to a corporation’s senior management team interested in satisfying the needs of typical key stakeholders. In so doing draw upon references from relevant theories and, where appropriate, illuminate your analysis, argument(s) and justification by using examples and illustrations. You should identify typical key stakeholders and their interests, and assess the implications of the tensions you identify and explore for them.