The International Accounting Standards Board (IASB)was created in order to develop worldwide accounting standards that must be used for all financial statements prepared regardless of country.

Question

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The IASB develops International Financial Reporting Standards (IFRS) that organizations can choose to follow, but it does not mandate that all financial statements globally must use these standards, as adoption depends on the decision of individual countries.

The International Accounting Standards Board (IASB)was Created in Order to Develop