The group that sets international preferred accounting practices is called the:

Question

Quizplus · Accepted Answer

The IASB (International Accounting Standards Board) is an independent organization responsible for developing and promoting the use of International Financial Reporting Standards (IFRSs). These standards are used by companies in over 100 countries around the world. The other answer choices either relate to organizations within the United States (AICPA, SEC, FASB) or are not related to accounting (CAP).

The Group That Sets International Preferred Accounting Practices Is Called