International Accounting Standards Committee

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International Accounting Standards Committee was founded in June 1973 in London and restructured to the International Accounting Standards Board (IASB) on April 1 2001. It was responsible for setting the International Accounting Standards.

The IASC was founded as a result of an agreement between accountancy bodies in the following countries:

• Australia
• Canada
• France
• Germany
• Japan
• Mexico
• the Netherlands
• the United Kingdom and Ireland
• the United States of Americade:International Accounting Standards Committee

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