What is the goal of the International Accounting Standards Board?
A) To have worldwide acceptance of a set of international generally accepted accounting principles
B) To develop accounting principles to meet the legal and tax needs of countries
C) To protect the right of each country to develop and maintain its own accounting standards
D) To develop rules for listing securities in any market

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) aims to develop a single set of high-quality, understandable, enforceable, and globally accepted accounting standards—IFRS Standards—and to promote and facilitate their worldwide acceptance. This is to ensure transparency, accountability, and efficiency in the financial markets around the world, rather than focusing on the legal, tax needs, or securities listing rules of individual countries.

What Is the Goal of the International Accounting Standards Board