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Q. 12RQ

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Horngren'S Financial And Managerial Accounting
Found in: Page 32

Short Answer

Explain the role of the International Accounting Standards Board (IASB) in relation to International Financial Reporting Standards (IFRS).

IASB publishes the IFRS.

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Step by Step Solution

Step1: Explanation on IFRS

International Financial Reporting Standards (IFRS) are the set of accountinmgstatndards that are followed by more than 116 countries.

Step2: Explanation on IASB

International Accounting Standards Board (IASB) is a private organization which is responsible for approiving the IFRS.

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