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I A S B refers to the International Accounting Standards Board, which is responsible for developing and promoting International Financial Reporting Standards (IFRS).
Entities that prepare their financial statements according to IFRS are required to comply with the standards set by the IASB.
Filling out IASB reports typically involves following the IFRS guidelines, ensuring accurate financial reporting and disclosures that adhere to the specified standards.
The purpose of the IASB is to develop and set International Financial Reporting Standards to ensure transparency, accountability, and efficiency in financial markets around the world.
Entities must report financial information that reflects their economic activities accurately, including balance sheets, income statements, cash flow statements, and notes to the accounts.
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