Compliance with AASB accounting standards is: a. Voluntary b. Legally binding c. Enforced by the professional bodies d. Enforced by the industry. a. Voluntary b. Legally binding c. Enforced by the professional bodies d. Enforced by the industry. The Conceptual Framework of Accounting: a. provides guidelines for preparing general purpose financial statements. b. prescribes the objective of special purpose financial statements. c. provides guidelines to meet the information needs of sophisticated users. d. provides prescribed format for preparing financial statements. a. provides guidelines for preparing general purpose financial statements. b. prescribes the objective of special purpose financial statements. c. provides guidelines to meet the Onformation needs of sophisticated users. d. provides prescribed format for preparing financial statements