Which of the Following Is Not True for the International

question 19

Multiple Choice

Which of the following is not true for the International Accounting Standards Board (IASB) ?

• A) The IASB is an independent standard-setting board that is publicly accountable to a monitoring board of capital market authorities.
• B) The IASB receives funding from the private sector, including mandatory levies on listed and non-listed entities in countries that utilise its standards.
• C) The IASB has strong enforcement powers to ensure that entities that have adopted its standards are in full compliance.
• D) From 2005, the European Union adopted IFRSs for listed companies preparing consolidated financial reports.

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