International Financial Reporting Standards (IFRS) are issued by the:
A) EU (European Union).
B) SEC (Securities and Exchange Commission).
C) FASB (Financial Accounting Standards Board).
D) IASB (International Accounting Standards Board).

Question

Quizplus · Accepted Answer

IFRS are issued by the International Accounting Standards Board (IASB), which is an independent standard-setting body based in London, UK. The EU has adopted IFRS as their primary accounting standard, but they are not the issuer. The SEC is a regulatory body in the United States and does not issue IFRS. FASB is responsible for setting accounting standards in the United States, but they are not the issuer of IFRS.

International Financial Reporting Standards (IFRS) Are Issued by The