answersLogoWhite

0


Best Answer

vThe IASC was restructured in 2001 and renamed the IASB

ØThis follows criticisms about its independence, expertise and commitment in setting high quality standards

ØMoved away from having part-time board members only to employing full-time staff with expertise

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Why did IASB replace IASC?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the relationship between the iasb and the fasb as well as the iasb equivalents for the fasb original pronouncements?

What is the relationship between the iasb and the fasb as well as the iasb equivalents for the fasb original pronouncements?


What does iasb mean?

IASB means International Accounting Standard Board.


Where is the IASB located?

London - England


What does IASB establish?

Financial accounting and reporting standards recommended for use by businesses throughout the world are established by the International Accounting Standards Board (IASB).


What is the purpose of the IASB?

The International Accounting Standards Board (IASB) was founded in 2001. The purpose of this 15 member organization is to set United States accounting standards.


Which organization is primarily responsible for establishing GAAP?

IASB


How is the iasb made up?

IASB is originally made up of 14 members from different countries with experience covering wide areas of accounting and business.


Is there significant differences exist between accounting standards issued by the fasb and the iasb?

no


How do you say fish in Irish?

fish = iasca fish is "iasc", fish (plural) is "éisc"


What bodies provide authoritative support for GAAP?

The SEC, FASB, AICPA, APB AND IASB.


The bodies that make up the International Accounting Standards?

The International Accounting Standards Board (IASB) is an independent group of 15 experts with an appropriate mix of recent practical experience of standard-setting, or of the user, accounting, academic or preparer communities.Source: IASB website


What is the acronym for an organization that promotes the international harmonization of accounting standards?

International Accounting Standards Committee (IASC) by umair sajedin