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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › regulatory framework
Hi!
Activity 2: Roles of the IASB
Which of the following bodies is responsible for reviewing new financial reporting issues and
issuing guidance on the application of IFRS?
? The International Accounting Standards Board
? The IFRS Foundation
? The IFRS Interpretations Committee
? The IFRS Advisory Council
the answer given is D.
However, I feel the correct answer must be C i.e. The IFRS Interpretations Committee
Please explain this to me.
Thanks
Hi,
Check out the IASB website and you will see the detailed roles of each body. The Interpretations Committee does not issue guidance, it interprets the rules.
Thanks