Assessing the Success of Global Standards in Accounting: A Critical Essay

On 9 September 2015 Michel Prada, Chairman, IFRS Foundation Trustee gave a speech entitled “The Success criteria of global standards”

This outlined 3 areas for the success criteria of global standards namely:-

A clear and supported purpose
Global standards must be widely used and applied consistently
Global Standards must deliver benefits

A copy of this speech is available on SunSpace VLE.
Required
In the conclusion he stated that “In summary, evidence shows that all three criteria for global accounting standards are being met.”

Critically evaluate this conclusion.  
This should be approximately 1,500 words.