Regulatory framework

This topic has 2 replies, 2 voices, and was last updated 8 years ago by John Moffat.

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February 18, 2018 at 10:05 am #437850
suleymanabuzerli
Member
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The IASB has the power to enforce compliance with IASs/IFRSs.is this statement??
A. True
B.False
If this is false,which body complies this function?
February 18, 2018 at 10:45 am #437855
suleymanabuzerli
Member
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in the meantime,IASB has power to enforce IFRSs in most countries?
February 18, 2018 at 11:26 am #437860
John Moffat
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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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