"It is perhaps not surprising or anomalous then that Conceptual Framework projects continue to be undertaken which rely on information qualities such as ‘representational faithfulness', ‘neutrality', ‘reliability', etc, which presume a concrete objective world, even though past Conceptual Frameworks have not succeeded in generating accounting standards which achieve these qualities." (Hines, 1991).
Critically evaluate this statement paying particular attention to the International Accounting Standards Board's conceptual framework project.