Complete the following sentence:
The ______________ is responsible for prosecuting companies for breaches of AASB standards.

Question

Quizplus · Accepted Answer

ASIC (Australian Securities and Investments Commission) is responsible for enforcing and prosecuting companies for breaches of accounting and auditing standards, including the AASB (Australian Accounting Standards Board) standards. AARF and ASX are both organizations related to the Australian financial market but do not have the authority to prosecute companies for breaches of accounting standards. AASB is responsible for setting the accounting standards, but not prosecuting breaches.

Complete the Following Sentence