Q. 12RQ
Question
Explain the role of the International Accounting Standards Board (IASB) in relation to International Financial Reporting Standards (IFRS).
Step-by-Step Solution
Verified Answer
IASB publishes the IFRS.
1Step1: Explanation on IFRS
International Financial Reporting Standards (IFRS) are the set of accountinmgstatndards that are followed by more than 116 countries.
2Step2: Explanation on IASB
International Accounting Standards Board (IASB) is a private organization which is responsible for approiving the IFRS.
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