The Framework issued by the AASB is equivalent to the one issued by which accounting body?
A) AARF.
B) FASB.
C) IASB.
D) PSASB.

Question

Quizplus · Accepted Answer

The Framework issued by AASB is equivalent to the one issued by the IASB. This resulted in the four SAC's issued by the AASB prior to the decision to converge either being subsumed (SAC 3 & SAC 4) or retained (SAC 1 & SAC 2) alongside the Framework.

The Framework Issued by the AASB Is Equivalent to the One