ACCA BT · Chapter 7 · Question 8 of 10
Which of the following is the role of the IFRS Interpretations Committee?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) To review accounting issues arising in the application of IFRS and provide authoritative guidance on them
Explanation
The IFRS Interpretations Committee considers widespread issues where divergent or unsatisfactory practice has developed and issues interpretations for ratification by the IASB. Appointing IASB members and overseeing funding is the role of the IFRS Foundation Trustees. Auditing and enforcement are carried out by auditors and national regulators.
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