Question: How does the FASB view its role in the development of an international accounting system? Currently, two former FASB board members serve on the IASB.

How does the FASB view its role in the development of an international accounting system? Currently, two former FASB board members serve on the IASB. Comment on what effect this might have on the like- lihood that the U.S. standard setters will accept the new IASB statements, if any?

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