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The IASB has the power to enforce compliance with IASs/IFRSs.is this statement??
A. True
B.FalseIf this is false,which body complies this function?
All that can force companies to do anything are the laws of the country that the company is in!!
Most countries accounting laws tie in with the standards, but if they don’t then it is the laws of the countries that dictate. Nobody can force compliance with the standards directly.
The IASB has no power to force compliance in any country.
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