Question
Achieving Comparability in International Accounting Standards The International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB), as the two powerful boards of the
Achieving Comparability in International Accounting Standards The International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB), as the two powerful boards of the international convergence of accounting standards, began a bilateral convergence program in 2001 to 'enhance the comparability in the international accounting standards' [SEC, 2002]. Required: Discuss the role of the accounting standards board in having comparable global accounting standards, and evaluate the challenges faced to achieve higher comparability.
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