The vast majority of commenters envision a strong role for the FASB in the endorsement of IFRS and that they expect the FASB to be able to exert influence on the standard-setting process of the IASB through this endorsement role. How Does Convergence Fit into the FASB’s Mission? Solution Answer: This considerations is unique to the US. Such a mechanism can serve as an important ‘sovereignty circuit-breaker’ to ensure that international rules do not automatically form a part of national law. Such arrangements are used by the majority of IFRS jurisdictions and are respected by the IASB. We also understand that US respondents wish to see a strong role for the FASB. From the IASB perspective, it is clear that the US’s contributions to the future Accounting Standards Forum and to the standard-setting process of the IASB would have greater weight if the US were to employ an endorsement approach to the use of IFRS..