Australian Accounting Standards Board (AASB)

The Australian Accounting Standards Board (AASB) is an independent organization responsible for creating and maintaining accounting standards in Australia. These standards ensure that companies prepare financial statements that are clear, consistent, and comparable, helping investors, regulators, and other stakeholders make informed decisions. The AASB aligns Australian standards with international guidelines (IFRS) to promote transparency and global consistency in financial reporting. Its work helps maintain trust and integrity in Australia's financial markets by setting clear rules for how companies record and communicate their financial performance.