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Law and regulation governing accounting

4.2 The role of the IFRS Foundation

The International Financial Reporting Standards Foundation (IFRS) was formed to try
and harmonise accounting standards in different countries.

Types of organisation
IFRS Foundation

IFRS
Advisory
Profit seeking Council
Objectives (IFRS AC)

IFRS
Interpretations
Committee
International
Accounting (IFRS IC)
Standards

Board (IASB)

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