ICAEW AF · Chapter 1 · Question 7 of 11
Which body is responsible for developing and issuing IFRS Accounting Standards?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) 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 the organisation, appoint board members and secure funding. The IFRS Interpretations Committee issues interpretations of existing standards, and the IFRS Advisory Council gives strategic advice.
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