IFRS Flashcards
1
Q
What is the IFRS Advisory Council?
A
Formal advisory body to the IASB and the IFRS Trustees
2
Q
What is the IFRS Interpretations Committee?
A
The Committee reviews current IFRS accounting issues that have arisen and provides authoritative guidance on those issues (IFRICs).
The Committee has 14 voting members, appointed by the IFRS Foundation Trustees based on their technical ability.
3
Q
What is the Accounting Standards Advisory Forum?
A
An advisory group to the IASB. It provides technical advice and feedback. Members consist of national accounting standard-setters and regional bodies with an interest in financial reported and are selected by the IFRS Trustees
4
Q
Which body approves IFRS Trustees?
A
The IFRS Foundation Monitoring Board
