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The International Accounting Standards Board Through the Ages

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Prepare a summary on the following points:

1. Describe the role and history of the International Accounting Standards Board.

2. Include an examination of the Board's evolution and stance on ethics issues.

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Solution Summary

524 words explaining the role and history of the International Accounting Standards Board as well as their evolution ethically. Reference links included.

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The International Accounting Standards Board is an independent, privately funded accounting standard-setter based in London, UK. The Board members come from nine countries and have a variety of functional backgrounds. It was founded on April 1, 2001. Its predecessor is International Accounting Standards Committee based in London, UK.

Mission Statement

The IASB is committed to developing, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require transparent and comparable information in general purpose financial statements. In addition, the IASB co-operates with national accounting standard-setters to achieve convergence in accounting standards around the world.

(Source www.iasb.org)

Role and responsibility

It is responsible for setting International Financial Reporting Standards. It has taken the role of unification of the ...

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