ACCA FA · Chapter 1 · Question 5 of 10
Which body is responsible for developing and issuing IFRS Accounting Standards?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) The International Accounting Standards Board (IASB)
Explanation
The IASB is the independent standard-setting body that develops and issues IFRS Accounting Standards. The IFRS Foundation Trustees oversee governance and funding, the Advisory Council gives strategic advice, and the Interpretations Committee issues interpretations on how existing standards should be applied.
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