Which of the following is a major restructuring objective of the IASB?
A) To ensure compliance to a single set of accounting standards.
B) To progressively phase out divergent accounting practices.
C) To promote a greater understanding of the accounting practices of different nations.
D) To cooperate with various national accounting standard-setters in order to achieve convergence in accounting standards around the world.

Question

Quizplus · Accepted Answer

The IASB aims to work with national accounting standard-setters to harmonize and converge accounting standards globally, reducing differences and improving comparability.

Which of the Following Is a Major Restructuring Objective of the IASB