The website of the FASB (as at early 2009) states that FASB intends:

To promulgate standards only when the expected benefits exceed the perceived costs. While reliable, quantitative cost-benefit calculations are seldom possible, the Board strives to determine that a proposed standard will meet a significant need and that the costs it imposes, compared with possible alternatives, are justified in relation to the overall benefits.

Do you think that cost-benefit considerations will be different in different countries?

If so, how would cost-benefit considerations be determined by a global accounting standard-setter such as the IASB?