The questions are on the picture

CASE 1: 'To converge to a single set of standards is now crucial' 'The success of an accounting framework comes from the widespread acceptance that it provides a reasonable basis to assess past performance and forecast future retums. That also requires the accounting framework to contn'bute to an understanding of the variability of retum: risk, in other words. 'How much more difficult would that task be if every nation still clung to its own language for dening commerce? How much simpler would it be if everyone could understand each other perfectly? The current crisis has increased focus on what has worked well and what has not. It reinforces the need to move together to make things better and we are seeing real momentum towards achieving a shared universal language of accounting. That's why converging to one set of accounting standards has never been more important and the currentnancial market crisis is acting as a catalyst to accelerate that path. 'Unfortunately, just as great strides have been taken towards the fon'nation of global accounting standards, some commentators look to shoot the messenger [the International Accounting Standards Board). They point to unintended consequences and asymmetric outcomes to question the accounting framework. They complain when the rules don't change to suit their position and they claim lack of governance when chan ges, with which they disagree, are made quickly to respond to calls for clarification or correction. 'Within an independent standardsetting process, it is inevitable there will be differing views. That some stakeholders feel aggrieved at the outcome of the debate is evidence of the integrity and independence of the consultation process.' Source: Flint, D., 'To converge to a single set of standards is now crucial', Financial Times, 5 November 2003 (abridged). Questions] 1 What is meant by an 'accounting framework\"? 2 Why do some commentators regard changes made to correct and clarify global accounting standards as indicating a 'lack of governance"? 3 To what extent do you agree with the comment 'That some stakeholders feel aggrieved at the outcome ofthe debate is evidence ofthe integrity and independence ofthe consultation process