Issuance of a new International Accounting Standard requires approval of at least
A)5/7 of the board
B)2/3 of the board
C)3/4 of the board
D)5/6 of the board

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) operates under a constitution that requires the approval of three-quarters of its members for the issuance of a new International Accounting Standard. This is stated in the IASB Handbook of the International Public Sector Accounting Standards Board, Part D, Chapter 1, Section 103. Therefore, the correct choice is C - 3/4 of the board.

Issuance of a New International Accounting Standard Requires Approval of at Least