International Accounting Standards One of the international standards-setting organizations is the International Accounting Standards Committee (IASC).

a. Who are the members of the IASC? How are they selected?

b. Evaluate the authority of the IASC in comparison to a governmental agency such as the U.S. Securities and Exchange Commission.

c. Why would governmental agencies of a number of countries acting together have difficulty setting international accounting standards?

d. Would you expect the demand for international accounting standards to be increasing or decreasing? Why?