FA – May 2013 – L1 – SA – Q3 – Regulatory Environment of Accounting

This question tests knowledge of the body responsible for developing IFRS.

Question

IFRS are developed and published by:

A. International Accounting Standards Committee
B. International Accounting Standards Advisory Council
C. International Accounting Standards Board
D. International Accounting Standards Foundation
E. International Accounting Reporting Standards Board

Answer

C. International Accounting Standards Board

Explanation:
The International Accounting Standards Board (IASB) is responsible for developing and issuing International Financial Reporting Standards (IFRS).

Tags: Financial Reporting, IFRS, International Standards
Level: Level 1

Topic: Regulatory Environment of Accounting
Series: MAY 2013

Uploader: Theophilus