The International Accounting Standards Board _____.

Question

Quizplus · Accepted Answer

The International Accounting Standards Board proposes accounting standards, but its standards are not enforceable. It is up to individual countries or regions to adopt the standards and enforce them through their own regulatory bodies. The board was not formed to replace the Financial Accounting Standards Board or to supervise U.S. accounting practices. And while the board can issue a new standard with a majority vote, this power is limited by its inability to enforce its standards.