Prior to 2005 International Accounting Standards (IAS)were influential in which of the following ways?
I They were adopted for use in countries without national standards
II They were used in the development of national standards
III They were used voluntarily in preparing consolidated accounts in some countries

Question

Quizplus · Accepted Answer

Prior to 2005, International Accounting Standards (IAS) played a significant role in shaping financial reporting practices globally. They were adopted by countries lacking their own national standards, influenced the development of national standards in various countries, and were voluntarily used by some entities for preparing consolidated financial statements.

Prior to 2005 International Accounting Standards (IAS)were Influential in Which