Australian Accounting Standards Board

The Australian Accounting Standards Board (AASB) is an organization that creates and maintains accounting rules and standards for businesses in Australia. Its goal is to ensure financial reports are transparent, consistent, and comparable across the country, helping investors, regulators, and other stakeholders make informed decisions. The AASB develops standards based on international guidelines and works closely with global accounting bodies. These standards govern how companies prepare their financial statements, ensuring clarity and reliability in financial reporting. Ultimately, the AASB promotes trust and integrity in Australia's financial information system.