The body that oversees the operation of the AASB is:
A) ASIC
B) The Financial Reporting Council
C) The Joint Standing Committee
D) The Foundation Board of Management

Question

Quizplus · Accepted Answer

The Financial Reporting Council (FRC) is the body that oversees the operation of the AASB (Australian Accounting Standards Board). The FRC is responsible for overseeing the activities of the various accounting and auditing standards-setting bodies, including the AASB. The FRC has the power to approve, amend or reject any accounting standards developed by the various standard-setting bodies.

The Body That Oversees the Operation of the AASB Is