Which two organizations are working together to harmonize financial reporting worldwide?
A) FASB and IASB
B) GAAP and FASB
C) SEC and FASB
D) EU and SEC

Question

Quizplus · Accepted Answer

FASB (Financial Accounting Standards Board) and IASB (International Accounting Standards Board) are working together to harmonize financial reporting worldwide. They are developing and refining International Financial Reporting Standards (IFRS) to create a single set of high-quality, globally accepted accounting standards that can be used by companies worldwide.

Which Two Organizations Are Working Together to Harmonize Financial Reporting