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Sample Essay – Economic Crisis
Finally, economic crisis has been seen to bring together different bodies in an effort to bridge difference and provide a united front which is good from many perspectives.
In this case, the IASB and FASB have accepted their responsibility through the creation of the FCAG which advises on more standard setting to tackle the problems that are being faced as well as analyze the roles of the standards in aggravating the problem of the financial crisis. Seeing that investor confidence is on the way up again and markets seem to be recovering a bit, it is safe to emphasize that these measures are working and that standard setting does have a positive effect in times of financial uncertainty.
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