Definition: International Accounting Standards Board

Category: General concept

The International Accounting Standards Board (IASB) is an independent, privately funded accounting standard-setter. The Board members come from nine countries and have a variety of functional backgrounds. The IASB is committed to developing, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require transparent and comparable information in general purpose financial statements. http://ec.europa.eu/eurostat/ramon/statmanuals/files/SNA2008.pdf European Union Regulation on the application of international accounting standards