What body currently develops accounting standards in Germany?
A)German Accounting Standards Committee
B)German Ministry of Justice
C)Bundestag
D)Chamber of Auditors

Question

Quizplus · Accepted Answer

The German Accounting Standards Committee (GASC) is responsible for developing accounting standards in Germany. The GASC is an independent body established by the Institute of Public Auditors in Germany and is recognized by the German Federal Ministry of Economics and Technology. Option B, the German Ministry of Justice, may have some regulatory oversight over accounting standards, but they are not directly responsible for developing them. Option C, the Bundestag, is the German federal parliament and is not involved in the development of accounting standards. Option D, the Chamber of Auditors, may have some involvement in accounting standards, but their primary role is to regulate and oversee auditors in Germany.

What Body Currently Develops Accounting Standards in Germany