Accounting Standards Board

The Accounting Standards Board (ASB) is an organization responsible for establishing and maintaining the rules and guidelines that govern financial reporting and accounting practices within a country or industry. Its purpose is to ensure that companies prepare financial statements that are consistent, transparent, and comparable, helping investors, regulators, and other stakeholders make informed decisions. The ASB develops these standards based on accounting principles, best practices, and stakeholder input, aiming to promote confidence and reliability in financial information across the economy.