International Accounting Standards Committee
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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:
- Australia
- Canada
- France
- Germany
- Japan
- Mexico
- the Netherlands
- the United Kingdom and Ireland
- the United States of America
The IASC had about 140 member bodies from 104 countries.
