Answer to Question #84866 in Management for Elick

Question #84866
Why the ISB involve local standard setters in setting IFRSs
1
Expert's answer
2019-02-06T06:00:07-0500

The local standard setters are important in achieving the objectives of global accounting standards and, therefore, are worth working with. They have local financial reporting knowledge, legal requirements, endorsement of new standards, and experience in technical accounting, setting standards and extensive relationship with stakeholders.

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