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International Accounting International Accounting Standards Committee was founded in June 1973 in London and replaced by the International Accounting Standards Board on April 1, 2001. It was responsible for developing the International Accounting Standards and promoting the use and application of these standards. The IASC was founded as a result of an agreement between accountancy bodies in the following countries[1]: * Australia (Institute of Chartered Accountants in Australia (ICAA) and the CPA Australia (formerly known as Australian Society of Certified Practising Accountants (ASCPA)) * Canada (Canadian Institute of Chartered Accountants (CICA)) * France (Ordre des Experts Comptable et des Comptables Agrees (Order of Accounting Experts and Qualified Accountants)) * Germany (Institut der Wirtschaftsprüfer in Deutschland (IDW) (Institute of Auditors in Germany) and the Wirtschaftsprüferkammer (WPK) (Chamber of Auditors)) * Japan Nihon Kouninkaikeishi Kyoukai (Japanese Institute of Certified Public Accountants, JICPA)) * Mexico (Instituto Mexicano de Contadores Publicos (IMCP) (Mexican Institute of Public Accountants)) (removed from the board in 1987 due to non-payment of dues; resumed in 1995). * the Netherlands (Nederlands Instituut van Registeraccountants (NIVRA) (Netherlands Institute of Registered Auditors)) * the United Kingdom and Ireland (counted as one) (Institute of Chartered Accountants in England and Wales (ICAEW), Institute of Chartered Accountants of Scotland (ICAS), Institute of Chartered Accountants in Ireland (ICAI), Association of Certified Accountants, Institute of Cost and Management Accountants, and the Institute of Municipal Treasurers and Accountants) * the United States of America (American Institute of Certified Public Accountants (AICPA)) |