BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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IASB
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IFRS Foundation
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IFRS Interpretation Committee
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IFRS Advisory Council
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Detailed explanation-1: -The IFRS is issued by the International Accounting Standards Board (IASB).
Detailed explanation-2: -The International Accounting Standards Board (IASB) is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRSs).
Detailed explanation-3: -The Accounting Standards are issued under the authority of the Council of the ICAI. The ASB has also been entrusted with the responsibility of propagating the Accounting Standards and of persuading the concerned parties to adopt them in the preparation and presentation of financial statements.
Detailed explanation-4: -What is IAS and IFRS? The IAS was a set of standards that was developed by the International Accounting Standards Committee (IASC). They were originally launched in 1973 but have since been replaced by the IFRS. IFRS is a set of standards that was developed by the International Accounting Standards Board (IASB).