The functioning of the Auditing and Assurance Standards Board is overseen by:
A) the Australian Accounting Research Foundation.
B) the Australian Accounting Standards Board.
C) the Financial Reporting Council.
D) the International Accounting Standards Board.

Question

Quizplus · Accepted Answer

The Financial Reporting Council oversees the functioning of the Auditing and Assurance Standards Board in Australia. The Australian Accounting Research Foundation is responsible for the development of accounting standards, the Australian Accounting Standards Board issues accounting standards in Australia, and the International Accounting Standards Board develops International Financial Reporting Standards.

The Functioning of the Auditing and Assurance Standards Board Is