The International Accounting Standards Board (IASB) last week issued an updated charter reiterating the global group’s commitment to deep cooperation with other accounting standards-setting bodies.
Formed in 2001, the IASB oversees the International Financial Reporting Standards (IFRS), which are aimed at creating one universal set of accounting rules. The group is a private sector body with an appointed board, drawing from 11 countries and differing professional backgrounds. Oversight is provided by a board of trustees, who are in turn supervised by a Monitoring Board comprised of public officials.
