Which of the following is the primary function of the International Accounting Standards Board (IASB)?
A)representing accountants employed in public sector companies around the world
B)representing accountants employed in public sector companies in developed countries
C)developing and promoting a single worldwide set of financial reporting standards
D)training professional accountants worldwide on ethical accounting practices

Question

Quizplus · Accepted Answer

The primary function of the International Accounting Standards Board (IASB) is to develop and promote a single set of worldwide financial reporting standards, known as International Financial Reporting Standards (IFRS), to be used by both public and private sector organizations. The IASB is an independent organization that works to improve financial reporting standards and increase transparency in financial reporting globally.

Which of the Following Is the Primary Function of the International