The role of the Accounting Standards Board (ASB) is to issue accounting standards in the United Kingdom. It is recognised for that purpose under the Companies Act 1985. It took over the task of setting accounting standards from the Accounting Standards Committee (ASC) in 1990.
The ASB is part of the Financial Reporting Council.
In Canada, primary GAAP and other principles are established by Accounting Standards Board (AcSB), an independent body funded by the CICA. List of accountancy bodies