Multiple Choice
Which of the following statements is correct in relation to the Urgent Issues Group (UIG) ?
A) The UIG is now defunct. As a result, previously issued UIG interpretations are no longer enforceable.
B) The UIG has been replaced by the International Accounting Standards Board.
C) Prior to ceasing to exist, the UIG provided consensus views on a range of topics peculiar to the Australian political, legal and economic systems.
D) Prior to ceasing to exist, the UIG was a subcommittee of the IFRS Interpretations Committee.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Australian accounting standards are now identical to
Q4: The Australian Securities and Investments Commission (ASIC)
Q5: In 2001, the International Accounting Standards Board
Q6: In July 2002, the Financial Reporting Council
Q7: Disclosing entities must prepare annual and half-yearly
Q9: Which of the following statements is not
Q10: The content and format of general purpose
Q11: All offers by a company to issue
Q12: Shares and debentures are the most common
Q13: The IFRS Interpretations Committee is a subcommittee