# International Accounting Standards Board (IASB)

- Canonical URL: https://www.gerhardmerk.de/international-accounting-standards-board-iasb
- Post ID: 588293
- Modified: 2023-07-25T21:00:14+00:00
- Language: en

## Definition

Accounting institution organized under private law with the task of creating globally accepted international accounting standards (IAS/IFRS). Through the IAS Regulation of the European Commission - EC Regulation No. 1606/2002 - today the body responsible for all issues relating to the accounting presentation of business activities in all sectors of the EU. Supervisors have also been involved in monitoring the work of the IASB since 2010. - Strictly speaking, the IAS are the principles adopted by the International Standards Committee - a predecessor organization of the IASB - which continue to be valid. The IFRS, on the other hand, designate the new improved guidelines developed by the IASB. - However, the Board also uses the new designation IFRS as a generic term. Up to now, practice has often tended to proceed the other way round, using the term "IAS balance sheet" to refer to the balance sheet prepared in accordance with IAS and IFRS standards. - See IAS, IAS 39, IFRS dialects, International Accounting Standards, International Financial Reporting Standards. - Cf. BaFin Annual Report 2008, p. 62 et seq. (equivalence is recognized; valuation of financial instruments; determination of fair value), BaFin Annual Report 2010, p. 63 et seq. (draft on accounting for insurance contracts), and the respective BaFin Annual Report, chapter "International Affairs." Attention: The financial encyclopedia is protected by copyright and may only be used for private purposes without express consent! University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec. Professor Dr. Eckehard Krah, Dipl.rer.pol. E-mail address: info@ekrah.com https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk https://www.jung-stilling-gesellschaft.de/merk/ https://www.gerhardmerk.de/

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