The International Accounting Standards Board (IASB) follows specific steps in developing International Financial Reporting Standards (IFRS), Place the following steps in the correct order: 1) Research and analysis conducted; preliminary views of pros and cons issued. 2) Topics identified and placed on the agenda. 3) Board evaluates responses, final standard issued. 4) Public hearing on proposed standard 5) Board evaluates research, issues exposure draft. O 1,2,3,4,5 O 1,2,5,4,3 O 1,2,5, 3, 4 O 2, 1,4,5,3