Question

international financial reporting standards and their standards

Answer 1

Answer:

IFRS are issued by the International Accounting Standards Board (IASB). They specify how companies must maintain and report their accounts, defining types of transactions, and other events with financial impact.

Answer 2

Answer:

International Financial Reporting Standards (IFRS) were established to bring consistency to accounting standards and practices, regardless of the company or the country. They are issued by the Accounting Standards Board (IASB) and address record keeping, account reporting and other aspects of financial reporting.