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1.Describe the standard setting environment for IFRS. 2. Who sets it and how, its due process, the organizational structure of IASB, including the roles played

1.Describe the standard setting environment for IFRS.

2. Who sets it and how, its due process, the organizational structure of IASB, including the roles played by the Monitoring Board, IFRS Foundation Trustees, Advisory Council, Interpretation Committee (IFRICs).

3.What is the status in regard to its acceptance in the U.S. market?

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