International Accounting Standards Board (IASB)

The International Accounting Standards Board (IASB) is an independent organization that develops and promotes global accounting standards known as International Financial Reporting Standards (IFRS). These standards provide guidelines for how companies prepare and present their financial statements, ensuring consistency and transparency in financial reporting across different countries. This is crucial for investors, regulators, and businesses as it helps them understand financial information and make informed decisions. By setting these standards, the IASB aims to enhance the comparability of financial data worldwide, facilitating international trade and investment.