Question 2 - 10 marks (1,000 words) Find a current exposure draft or proposal for a new accounting standard which has been opened for public comments. (These can be found on the websites of most standard-setting organizations, such as the IASB, AASB and FASB. Hint: These websites can be quite difficult to navigate, so as a first step try typing IASB exposure draft and comment letters/FASB exposure draft and comment letters into Google or other search engine of your choice). Read a sample of the comments from a range of respondents. Select four respondents, for example, from accounting bodies, industry, companies or corporate bodies. If you are having a problem finding suitable comments letters then contact your subject coordinator. Include copies of the comments letters you wish to discuss and complete the following tasks: a) Describe in your own words the issues that the exposure draft/proposal and comments letters are dealing with. b) Is there agreement among the various groups? Describe the issues where there is agreement/disagreement and provide examples. c) In your opinion, which of the three theories of regulation (e.g., public interest, private interest or capture theory) best explains the comment letters? Justify your answer. Please note: you need to attach comment letters you selected for your report (no need to attach exposure