International Accounting Standards (IAS) are issued by the International Accounting Standards Board (IASB) to standardize accounting principles and procedures across different countries to enhance comparability and transparency in financial statements.
The London-based privately funded organization responsible for developing a single set of high-quality, understandable International Financial Reporting Standards (IFRS) for general-purpose financial statements.
The IFAC is a global organization formed in 1977 to develop a high-quality, harmonized international accountancy profession. It collaborates with 175 member organizations in 130 countries and supports four independent standard-setting bodies.
The Standard Interpretations Committee (SIC), now known as the International Financial Reporting Interpretations Committee (IFRIC), was established by the International Accounting Standards Committee (IASC) to provide interpretations of International Financial Reporting Standards (IFRS). These interpretations aimed to standardize the application of accounting standards across various regions and industries.
An international conference of accounting professionals first held in St Louis, USA, in 1904. It is now held at four-yearly intervals under the auspices of the International Federation of Accountants (IFAC). The nineteenth Congress was held in Rome in 2014.
