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What is the regulatory status (authority) of International Financial Reporting Standards (IFRS) and Conceptual Framework for Financial Reporting issued by IASB? And Why Australian Accounting

What is the regulatory status (authority) of International Financial Reporting Standards (IFRS) and Conceptual Framework for Financial Reporting issued by IASB?

And Why Australian Accounting Standards Board (AASB) reissued the IFRS accounting standards and the IASB Conceptual framework?

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