The body primarily responsible for establishing a single set of global accounting standards is the:
A)IASB.
B)SEC.
C)FASB.
D)IOSCO.

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is responsible for developing and publishing International Financial Reporting Standards (IFRS) that can be used by companies around the world as a single, consistent set of accounting standards. The other options, SEC, FASB, and IOSCO, have roles in accounting regulation or standard-setting, but they are not primarily responsible for establishing global accounting standards.

The Body Primarily Responsible for Establishing a Single Set of Global