IFRS CONCEPTS AND APPLICATIO IFRS1-1 Who are the two key international players in the development of international acounting standards? Explain their role. IFRS1-2 What might explain the fact that different accounting standard-setters have developed account- ing standards that are sometimes quite different in nature? IFRS1-3 What is the benefit of a IFRS1-4 Briefly describe FASB/IASB convergence process and the principles single set of high-quality accounting stan efforts