Which is the following statements concerning the Australian Securities and Investments Commission (ASIC) is incorrect?
A) ASIC acts as an overseer and advisory body to the accounting standard setters.
B) ASIC is responsible for administering company law throughout Australia.
C) ASIC is required to provide information about companies to the public as soon as is practicable.
D) One of ASIC's functions is to monitor and promote market integrity and consumer protection in regards to the Australian financial system.

Question

Quizplus · Accepted Answer

ASIC does not act as an overseer and advisory body to the accounting standard setters. This responsibility is held by the Australian Accounting Standards Board (AASB).

Which Is the Following Statements Concerning the Australian Securities and Investments