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The International Accounting Standards Board's (IASB) main objective together with national standard setters is to set standards for financial reporting that will be used by businesses and organizations worldwide. The board has twelve full-time members and two part-time members. Of the twelve full-time members, seven members must have a "formal liaison responsibility with one or more national standard setter." (Hoyle, Schaefer, & Doupnik, 2004) There is no requirement of formal liaison responsibility for the remaining seven members of the board. "A minimum of five IASB members must have a background as practicing auditors, three must have a background as preparers of financial statements and three as users of financial statements, and at least one member must come from academia." (Hoyle, Schaefer, & Doupnik, 2004) This paper will examine the International Accounting Standards Board's role and history, as well as its evolution and stance on ethics issues.
The International......

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Approximate Word Count: 799
Approximate Pages: 4 (250 words per double-spaced page)

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