Question

In: Accounting

The purpose of this case is to introduce you to the information available on the website of the International Accounting Standards Board (IASB).

The purpose of this case is to introduce you to the information available on the website of the International Accounting Standards Board (IASB). 

 

Required: 

Access the IASB home page on the Internet. The web address is www.iasb.org. Answer the following questions. 

1. The IASB has how many board members? 

2. In what city is the IASB located? 

3. Describe the mission of the IASB.

Solutions

Expert Solution

1. The IASB has 15 board members, each with one vote. They are selected as a group of experts with a mix of experience of standard setting, preparing and accounts and academic work.

 

2. IASB is located at Delaware in US.

 

3. Mission of the IASB: 

To develop, in the public interest single set of high quality, understandable, enforceable, and globally accepted financial reporting standards based upon clearly articulated principles.


To develop, in the public interest single set of high quality, understandable, enforceable, and globally accepted financial reporting standards based upon clearly articulated principles.

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