The body primarily responsible for establishing a single set of global accounting standards is the:

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is the body primarily responsible for establishing a single set of global accounting standards. The IASB is an independent standard-setting board that works to develop and promote the use of high-quality, globally accepted accounting standards. The other options, the SEC (Securities and Exchange Commission) is a regulatory agency in the United States, the FASB (Financial Accounting Standards Board) sets accounting standards for entities in the US, and IOSCO (International Organization of Securities Commissions) is an association of regulators that focuses on promoting high standards in securities regulation. However, none of these organizations are primarily responsible for establishing global accounting standards.

The Body Primarily Responsible for Establishing a Single Set of Global