Which body reviews,on a timely basis within the context of existing International Accounting Standard and the IASB Framework,accounting issues that are likely to receive divergent or unacceptable treatment in the absence of authoritative guidance?
A) International Accounting Standards Board (IASB).
B) International Financial Reporting Interpretations Committee (IFRIC).
C) International Interpretations and Issues Group (IIIG).
D) Urgent Issues Group (UIG).
E) Australian Accounting Standards Board (AASB).

Question

Quizplus · Accepted Answer

The International Financial Reporting Interpretations Committee (IFRIC) is responsible for reviewing accounting issues that are likely to receive divergent or unacceptable treatment in the absence of authoritative guidance, within the context of existing International Accounting Standard and the IASB Framework.

Which Body Reviews,on a Timely Basis Within the Context of Existing