The group that attempts to create more harmony among the accounting practices of different countries is the:
A) AICPA.
B) IASB.
C) CAP.
D) SEC.
E) FASB.

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is the group that attempts to create more harmony among the accounting practices of different countries by developing International Financial Reporting Standards (IFRS) that can be used globally. The AICPA is a professional organization for accountants in the United States, while the CAP and SEC are regulatory bodies in the U.S. The FASB develops accounting standards for U.S. companies.

The Group That Attempts to Create More Harmony Among the Accounting