A manager you work for is making a business trip to London. The manager has several meetings at the company's operating units in London. In addition, the manager is considering a visit to the International Accounting Standards Committee (IASC) office in London. The manager has asked you to perform some research on the IASC so that he will have some background information for his visit. (Hint: A helpful search term is "International Accounting Standards Committee.") Locate the following information and incorporate this information into a two- to three-page report.

\section*{Required (through use of the Internet)}

a. Provide a brief history or discussion of the IASC, making sure to include the following additional facts:

(1) Number of member organizations.

(2) Structure of the IASC.

(3) Number of accounting standards currently published.

(4) Explanation of the steps involved in creating an International Accounting Standard in accordance with due process.

(5) Local mailing address and phone number.

b. List the first five companies and their country of origin, as listed by IASC in their homepage, that refer to their use of International Accounting Standards in their financial statements. (Hint: Look in the "About IASC" section.)

c. Briefly summarize the two most recent accounting standards issued by the IASC.