DEFINITION
International Accounting Standards Board

"International Accounting Standards Board": (IASB). An independent, privately-funded accounting standard-setter based in the UK. Its purposes include developing and publishing a single set of high quality, understandable and enforceable global accounting standards. In addition, it co-operates with national accounting standard-setters to encourage convergence in accounting standards around the world. The IASB works within the IFRS Foundation.
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