Establishing international accounting standards is the responsibility of:

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is responsible for establishing international accounting standards. The Securities and Exchange Commission (SEC) and the Financial Accounting Standards Board (FASB) both play important roles in the US financial reporting system, but they do not have the same responsibility as the IASB to establish international accounting standards. The Accounting Association of America is not an official regulatory body and does not have the authority to establish accounting standards.

Establishing International Accounting Standards Is the Responsibility Of