Question: Explain the relationship between the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).
References to be used:
1. https://www.journalofaccountancy.com/news/20125579.htm
2. https://www.accountingtoday.com/news/FASB-Revises-Proposed-Changes-Financial-Instruments-Accounting-Standards-65700-1.html