Structure of International Accounting Standard Board
The International Accounting Standard Board consists of fifteen experienced members from different countries who are elected by a Board of Trustees. During a recent meeting it has been decided that there would be an increase in the number of the members of International Accounting Standard Board and also formation of a new monitoring board. The structure of international Accounting Standard Board consists of some independent organizations too. The International Financial Reporting Standards (IFRS) is a part of International Accounting Standard Board. The International Financial Reporting Standards being an independent organization is divided into two main categories. Firstly the trustees and secondly the International Accounting Standard Board itself. The structure also consists of International Financial Reporting Standards advisory Council and also of a special committee known as the International Financial Reporting Standards Interpretations Committee (Walton, 2006).