Which of the following statements is correct in relation to the Urgent Issues Group (UIG) ?
A) The UIG is now defunct. As a result, previously issued UIG interpretations are no longer enforceable.
B) The UIG has been replaced by the International Accounting Standards Board.
C) Prior to ceasing to exist, the UIG provided consensus views on a range of topics peculiar to the Australian political, legal and economic systems.
D) Prior to ceasing to exist, the UIG was a subcommittee of the IFRS Interpretations Committee.
Correct Answer:
Verified
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