Question

Which body is responsible for the issue of International Financial Reporting Standards?

A The IFRS Advisory Council

B The International Financial Reporting Interpretations Committee

C The International Accounting Standards Board

D The European Union​

Answer 1

Answer:

B. The International Financial Reporting Interpretations Committee.

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Answer 2

THE INTERNARIONAL ACCOUNTING STANDARDS BOARD

The International Financial Reporting Standards (IFRS) are accounting standards that are issued by the International Accounting Standards Board (IASB) with the objective of providing a common accounting language to increase transparency in the presentation of financial information.

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