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regulatory framework

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › regulatory framework

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by P2-D2.
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  • July 27, 2021 at 1:28 pm #629571
    deekshabee
    Participant
    • Topics: 24
    • Replies: 22
    • ☆

    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

    July 28, 2021 at 10:29 pm #629713
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 6443
    • ☆☆☆☆☆

    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

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