Accounting Standards Board
Encyclopedia
The role of the Accounting Standards Board (ASB) is to issue accounting standards in the United Kingdom
. It is recognised for that purpose under the Companies Act 1985
. It took over the task of setting accounting standards from the Accounting Standards Committee (ASC) in 1990.
The ASB is part of the Financial Reporting Council
.
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In Canada, primary GAAP and other principles are established by Accounting Standards Board (AcSB), an independent body funded by the CICA. List of accountancy bodies
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
. It is recognised for that purpose under the Companies Act 1985
Companies Act 1985
The Companies Act 1985 is an Act of the Parliament of the United Kingdom of Great Britain and Northern Ireland, enacted in 1985, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries.The Act was a consolidation of...
. It took over the task of setting accounting standards from the Accounting Standards Committee (ASC) in 1990.
The ASB is part of the Financial Reporting Council
Financial Reporting Council
The Financial Reporting Council is the UK's independent regulator responsible for promoting high quality corporate governance and reporting to foster investment.-Structure:...
.
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In Canada, primary GAAP and other principles are established by Accounting Standards Board (AcSB), an independent body funded by the CICA. List of accountancy bodies