The role of the Financial Reporting Council is to provide broad oversight of the process for setting International standards,including the authority to direct the IASB to develop,amend or revoke a particular standard.

Question

Quizplus · Accepted Answer

The Financial Reporting Council (FRC) does not have the authority to direct the International Accounting Standards Board (IASB) to develop, amend, or revoke standards. The IASB is an independent body responsible for setting International Financial Reporting Standards (IFRS).

The Role of the Financial Reporting Council Is to Provide