It is not part of the role of the Financial Reporting Council:
A) to approve and monitor the AASB's priorities
B) to review the content of existing accounting standards
C) to promote a greater role for international accounting standards in Australia
D) to appoint members of the AASB

Question

Quizplus · Accepted Answer

The Financial Reporting Council (FRC) is responsible for overseeing the effectiveness of the financial reporting framework in Australia, including approving and monitoring the Australian Accounting Standards Board's (AASB) priorities, promoting the adoption of international accounting standards, and appointing members of the AASB. However, reviewing the content of existing accounting standards is a task directly undertaken by the AASB itself, not the FRC.

It Is Not Part of the Role of the Financial