Accounting Standards Board
||It has been suggested that this article be merged into Financial Reporting Council. (Discuss) Proposed since May 2011.|
The role of the Accounting Standards Board (ASB) is to issue accounting standards in the United Kingdom. It is recognised for that purpose under the Companies Act 1985. It took over the task of setting accounting standards from the Accounting Standards Committee (ASC) in 1990. However, ASB was overtaken by Financial Reporting Council (FRC) on 2 July 2012. Thus, FRC is now the authority that may issue accounting standards in UK
The ASB is part of the Financial Reporting Council.
In Canada, primary GAAP and other principles are established by Accounting Standards Board (AcSB), an independent body funded by the CICA. List of accountancy bodies
- Accounting Standard Board Home page