The independent group that is attempting to harmonize accounting practices of different countries is the:
A) CAP.
B) IASB.
C) SEC.
D) AICPA.
E) FASB.

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is an independent group that works towards harmonizing accounting practices of different countries by developing and promoting the use of International Financial Reporting Standards (IFRS). CAP and SEC are regulatory bodies in the United States, while AICPA and FASB are accounting organizations in the U.S.

The Independent Group That Is Attempting to Harmonize Accounting Practices