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International Accounting Standards Committee

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International Accounting Standards Committee
Also called the IASC. An organization established to standardize accounting practices across the world. Although the IASC had no authority to enforce its rulings, a number of countries followed its guidelines anyway. In 2001, the IASC was replaced by the International Accounting Standards Board.


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In April 200l, the International Accounting Standards Board (IASB), an independent accounting standard-setter based in London, assumed accounting standard-setting responsibilities from its predecessor body, the International Accounting Standards Committee.
The International Accounting Standards Committee (IASC), the oversight body of the International Accounting Standards Board (IASB), named Kurt Ramin to lead the organization's work with XBRL International.
The International Accounting Standards Committee Foundation (IASCF) is launching a programme to help accountants prepare financial statements under international accounting standards in the run-up to the 2005 implementation deadline (see "Clarity begins at home, FM February 2002).
 
International Accounting Standards Committee
 
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