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What is the International Accounting Standard Board (IASB)?

The International Accounting Standard Board (IASB) which was set up in April 2001 is independent standard-setting body of IFRS foundation. It replaces the International Accounting Standard Committee (IASC)  which had been setting International Accounting Standard (IAS) since 1973. At the time of its initiation, the IASB adopted in full all existing IASs and decided that all new … Read the rest