Which statement below most accurately describes a primary purpose of the International Accounting Standards Committee (IASC) Foundation?
Approves principles-based standards and informs International Accounting Standards Board (IASB) of implications of proposed standards
Oversees standards set for the public sector
Monitors International Accounting Standards Board (IASB)’s effectiveness, raise funds, approve budget, responsible for constitution
Provides advice to International Accounting Standards Board (IASB) on priorities
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