Which of the following is a function of the International Accounting Standards Board (IASB)?
A) representing accountants employed in the public and private sectors in the United States
B) Establishing international standards on ethics in auditing and public sector accounting.
C) developing and promoting a single worldwide set of financial reporting standards
D) providing professional accountants worldwide with access to a wide range of resources

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is responsible for developing and promoting a single worldwide set of financial reporting standards, known as International Financial Reporting Standards (IFRS).

Answer: A, D are incorrect choices. 
 The IASB does not represent accountants employed in the public and private sectors in the United States (choice A) and does not provide professional accountants worldwide with access to a wide range of resources (choice D). Establishing international standards on ethics in auditing and public sector accounting is the responsibility of the International Ethics Standards Board for Accountants (IESBA), not the IASB.

Which of the Following Is a Function of the International