Which of the following statements is not true for Accounting Standards and statements?
A. The objective of creating accounting standards for any particular issue, is to limit the variety of available accounting practices, but without striving for strict uniformity or creating a set of rigid rules for all circumstances.
B. The International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS) are issued by the South African Institute of Chartered Accountants (SAICA).
C. The International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS) are prepared by the International Accounting Standards Board.
D. In America, the Financial Reporting Standards Council (FRSC) plays an important role in the development of IFRS.
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