Which statement below most accurately describes a primary purpose of the Standards Advisory Council (SAC)?

Which statement below most accurately describes a primary purpose of the Standards Advisory Council (SAC)?
A . Informs International Accounting Standards Board (IASB) of implications of proposed standards
B . Appoints International Accounting Standards Board (IASB) members
C . Approves principles-based standards but does not issue detailed application guidelines
D . Has the sole responsibility for setting standards

View Answer

Answer: A