The body that is responsible for the issue of accounting standards in Australia is:
A)The Australian Securities and Investments Commission.
B)The Australian Accounting Standards Board.
C)The Institute of Chartered Accountants in Australia.
D)CPA Australia.

Question

Quizplus · Accepted Answer

The Australian Accounting Standards Board (AASB) is responsible for developing and issuing accounting standards in Australia. They work in conjunction with the International Accounting Standards Board (IASB) to ensure that Australian accounting standards are aligned with international standards. The other options listed are professional organizations or regulatory bodies but are not responsible for issuing accounting standards.

The Body That Is Responsible for the Issue of Accounting