IAFB Paper microsoft office

IAFB Paper microsoft office - Case Study C12-7 1 Response...

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Case Study C12-7 1 Response to Case Study 12-7 Jamie Hall ACC 400 University of Phoenix
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Case Study C12-7 2 Case Study C12-7 While conducting accounting work on a national and international level many rules regulations and standards exist. The governing body over the accounting standards and the International Accounting Standards Board (IASB) is the International Accounting Standards Committee (IATC). Many steps are involved in creating accounting standards in accordance with due process. It is important for certified public accountants to remain familiar with current and newly implemented accounting standards at all times. The main role of the IASC is to provide governance for the IASB and related bodies. The IASC is made up of 22 trustees whom abide by the rules of the IASC's constitution. Trustees of the IASC are responsible for appointing members of the IASB, International Financial Reporting Interpretations Committee (IFRIC) and the Standards Advisory Council (IASC, 2010). The IASC is also responsible for others duties to include reviewing the strategy and effectiveness of the IAFB standards. The IASC reviews and approves the budget for the IAFB. The IAFC establishes and amends the IAFB operating procedures and approves amendments to the constitution (IASC, 2010).
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This note was uploaded on 09/14/2010 for the course ACC 429 taught by Professor Whitehurst during the Spring '10 term at Chattanooga State.

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IAFB Paper microsoft office - Case Study C12-7 1 Response...

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