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Acronyms that contain the term international accounting standards committee
What does international accounting standards committee mean? This page is about the various possible meanings of the acronym, abbreviation, shorthand or slang term: international accounting standards committee.
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What does international accounting standards committee mean?
- International Accounting Standards Committee
- The International Accounting Standards Committee (IASC) was founded in June 1973 in London at the initiative of Sir Henry Benson, former president of the Institute of Chartered Accountants in England and Wales. The IASC was created by national accountancy bodies from a number of countries with a view to harmonizing the international diversity of company reporting practices. Between its founding in 1973 and its dissolution in 2001, it developed a set of International Accounting Standards (IAS) that gradually acquired a degree of acceptance in countries around the world. Although the IASC came to include some organizations representing preparers and users of financial statements, it largely remained an initiative of the accountancy profession. On 1 April 2001, it was replaced by the International Accounting Standards Board (IASB), an independent standard-setting body. The IASB adopted the extant corpus of IAS which it continued to develop as International Financial Reporting Standards.
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"international accounting standards committee." Abbreviations.com. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.abbreviations.com/international%20accounting%20standards%20committee>.
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