Who has overall responsibility for issuing accounting standards in Australia?
A) The Financial Reporting Council (FRC)
B) The Australian Accounting Standards Boards (AASB)
C) The International Accounting Standards Board (IASB)
D) The Australian Accounting Research Foundation (AARF)

Question

Quizplus · Accepted Answer

The Australian Accounting Standards Board (AASB) has overall responsibility for issuing accounting standards in Australia. The AASB is an independent government agency that develops and maintains accounting standards for both the public and private sectors in Australia. The AASB also works closely with the International Accounting Standards Board (IASB) to ensure that Australian accounting standards are consistent with international standards.

Who Has Overall Responsibility for Issuing Accounting Standards in Australia