The International Organization of Securities Commissions (IOSCO) sets accounting standards for those countries which have not yet adopted IFRS.

Question

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The International Accounting Standards Board (IASB) sets accounting standards, including International Financial Reporting Standards (IFRS). IOSCO does not set accounting standards, but it does promote their use and facilitates international cooperation and coordination of securities regulations.

The International Organization of Securities Commissions (IOSCO) Sets Accounting Standards