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the international financial reporting standards foundation is committed to developing,in the public interest, a single...

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Accounting

the international financial reporting standards foundation is committed to developing,in the public interest, a single set of high quality, understandable and enforcement global accounting standards that require transparent and comparable information in general purpose financial statements. the various pronouncement of the IFRS foundation are sometimes collectively referred to as international financial reporting standards GAAP. briefly explain why a regulatory framework is necessary

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