The final approval of accounting standards to apply under the Corporations Act rests with:
A) Parliament
B) AASB
C) ASIC
D) The Joint Standing Committee of the Institute of Chartered Accountants in Australia and CPA Australia

Question

Quizplus · Accepted Answer

Parliament has the ultimate authority to approve accounting standards under the Corporations Act, as these standards form part of the legislative framework governing corporations in Australia.

The Final Approval of Accounting Standards to Apply Under the Corporations