The two major standard-setting organizations in the world are the International Accounting Standards Board (IASB) and International Organization of Securities Commission (IOSCO).

Question

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The two major standard-setting organizations are the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB). IOSCO is an association of organizations that regulate the world’s securities and futures markets, not a standard-setting organization in accounting.

The Two Major Standard-Setting Organizations in the World Are the International