What entity is primarily responsible for setting accounting and financial reporting standards in Mexico?
A)Mexican Institute of Public Accountants (MIPA)
B)National Banking and Securities Commission (NBSC)
C)Bolsa Mexicana de Valores (BMV)
D)International Accounting Standards Board

Question

Quizplus · Accepted Answer

The Mexican Institute of Public Accountants (MIPA) is primarily responsible for setting accounting and financial reporting standards in Mexico. It is a professional organization of accountants that develops and updates the accounting standards and guidelines in Mexico. The National Banking and Securities Commission (NBSC) oversees the financial sector in Mexico and the Bolsa Mexicana de Valores (BMV) is the Mexican stock exchange. The International Accounting Standards Board develops and promotes international accounting standards.

What Entity Is Primarily Responsible for Setting Accounting and Financial