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1. Does the IASB have the authority to impose funding requirements on member countries? How does this differ from the FASBs funding mechanism? 2.a. Explain

1. Does the IASB have the authority to impose funding requirements on member countries? How does this differ from the FASBs funding mechanism?

2.a. Explain how HSBC and its subsidiaries might have prepared individual country financials before IFRS?

b. Why would you expect HSBC to be an advocate for a single set of global financial reporting standards?

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