UK Accounting Standards Board

The UK Accounting Standards Board (ASB) is responsible for setting and maintaining accounting standards in the United Kingdom. Its main goal is to ensure that financial reporting is clear and consistent, allowing businesses to accurately present their financial health and performance. By establishing guidelines for how companies prepare their financial statements, the ASB helps maintain trust between businesses, investors, and the public. In 2012, the ASB was incorporated into the Financial Reporting Council (FRC), which oversees all aspects of corporate governance and financial reporting in the UK.