The IASB: its Origins and Structure

The International Accounting Standards Committee (IASB) is the only body that seeks to be the global standard setter which can claim to represent the whole world and not simply a country or a group of countries. This chapter presents a brief introduction to the IASB concentrating on its origins, objectives and structure. The IASB’s standards are covered in the subsequent chapters. The IASB was set up in April 2001, but it can trace its origins back a further quarter of a century, for the IASB is essentially the former IASC with a completely reformed structure and revised objectives. Hence the analysis of the IASB’s structure and objectives starts by examining those of its predecessor, the IASC.