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Who is IASB?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Puja Agarwal asked over 2 years ago

Who is IASB?

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7 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Pankaj answered over 2 years ago

The IASB is an independent accounting standard-setting body of the IFRS Foundation. The principal objectives of the IFRS Foundation are: a) to develop a single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs) through its standard-setting body, the IASB; b) to promote the use and rigorous application of those standards; c) to take account of the financial reporting needs of emerging economies and small and medium-sized entities (SMEs); and d) to bring about convergence of national accounting standards and IFRSs to high quality solutions. The IASB, based in London, consists of 15 members. It began operations in 2001 when it succeeded the International Accounting Standards Committee.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered over 2 years ago

**Meaning** The International Accounting Standards Board (IASB) is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRSs). The IASB operates under the oversight of the IFRS Foundation. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial institutions and industrial companies, central and development banks, national funding regimes, and other international and professional organizations throughout the world. The IASB, based in London, consists of 15 members. It Main Objective is to develop , Review , Change , Alter , Creation a IFRS [International Financial Reporting Standard]

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

a) to develop a single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs) through its standard-setting body, the IASB; b) to promote the use and rigorous application of those standards; c) to take account of the financial reporting needs of emerging economies and small and medium-sized entities (SMEs); and d) to bring about convergence of national accounting standards and IFRSs to high quality solutions.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Prity answered over 2 years ago

Who is IASB? The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from multiple countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial institutions and industrial companies, central and development banks, national funding regimes, and other international and professional organizations throughout the world. While the AICPA was a founding member of the International Accounting Standards Committee, the IASB's predecessor organization, it is not affiliated with the IASB.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Amit Goyal answered over 2 years ago

Dear Puja Ji , As Far as your query is concerned with Who is IASB. Let me informed puja ji , : - **`**`**`IASB [Independent Accounting Standard - Setting Body]`**`**`** [1] IASB Is Independent Accounting Standard-Setting Body. [2] IASB Is a Body Of IFRS Foundation. [3] IASB Is In The London. [4] There are 15 Members in IASB. [5] It begins Operation in 2001. [6] It Main Objective is to develop , Review , Change , Alter , Creation a IFRS [International Financial Reporting Standard] I Hope puja ji this answer will be helpful to you thanks with Best Regards Amit Goyal

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Aarti Vadnerkar answered over 2 years ago

The IASB is an independent accounting standard-setting body, based in London. It consists of 15 members from nine countries, including the United States. The IASB began operations in 2001 when it succeeded the International Accounting Standards Committee. It is funded by contributions from major accounting firms, private financial institutions and industrial companies, central and development banks, national funding regimes, and other international and professional organizations throughout the world. While the AICPA was a founding member of the International Accounting Standards Committee, the IASB's predecessor organization, it is not affiliated with the IASB. The IASB neither sponsors nor endorses the AICPA's IFRS resources website (www.IFRS.com).

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Prity answered over 2 years ago

Who is IASB? The IASB is an independent accounting standard-setting body of the IFRS Foundation. The principal objectives of the IFRS Foundation are: a) to develop a single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs) through its standard-setting body, the IASB; b) to promote the use and rigorous application of those standards; c) to take account of the financial reporting needs of emerging economies and small and medium-sized entities (SMEs); and d) to bring about convergence of national accounting standards and IFRSs to high quality solutions. The IASB, based in London, consists of 15 members. It began operations in 2001 when it succeeded the International Accounting Standards Committee. In fulfilling its standard-setting duties the IASB follows a thorough, open and transparent due process of which the publication of consultative documents, such as discussion papers and exposure drafts, for public comment is an important component. The IASB engages closely with stakeholders around the world, including investors, analysts, regulators, business leaders, accounting standard-setters and the accountancy profession.

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