What does Accounting Standards Board mean?

Accounting Standards Board meaning in Finance Dictionary

UK human anatomy that sets accounting standards. Its recognised for that purpose beneath the organizations Act 1985 and took over the task of setting bookkeeping standards from the Accounting guidelines Committee (ASC) in 1990. The ASB in addition collaborates with accounting requirements setters off their nations additionally the International (IASB) both in order to influence the development of international requirements plus in purchase to make sure that its criteria tend to be created with because of regard to international improvements. It's a subsidiary associated with Financial Reporting Council (FRC).