The International Accounting Standards Committee was established in 1973 to develop worldwide standards.Which group replaced it in 2001?

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The International Accounting Standards Committee (IASC) was replaced by the International Accounting Standards Board (IASB) in 2001. The IASB is responsible for developing and promoting the use of International Financial Reporting Standards (IFRS) as global accounting standards. The Financial Accounting Standards Board (FASB) is responsible for developing and promoting the use of Generally Accepted Accounting Principles (GAAP) in the United States, while the Institute of Internal Auditors (IIA) is responsible for advancing the internal audit profession worldwide.

The International Accounting Standards Committee Was Established in 1973 to Develop