IASB (International Accounting Standards Board)

The International Accounting Standards Board (IASB) is an organization that develops and sets global standards for how companies prepare and report their financial statements. Its goal is to create consistent and transparent accounting practices worldwide, making it easier for investors, regulators, and others to compare financial information across different countries. The standards, called International Financial Reporting Standards (IFRS), promote clarity and trust in financial reporting, helping stakeholders make informed decisions. The IASB operates independently and collaborates with various organizations to ensure its standards remain relevant and effective globally.