Question
How can this be written in a different way to mean the same thing? Historically, the International Accounting Standards started in the mid-1960s, more precisely,
How can this be written in a different way to mean the same thing?
Historically, the International Accounting Standards started in the mid-1960s, more precisely, in 1966, with an initial proposal to enact the ICAEW, AICPA and the CICA for England and Wales, US and Canada respectively. Consequently, the Accounts International Study Group was founded in the following year, 1967, which aggressively championed for change by publishing papers on topics with great significance. As a result of these papers, the way was paved for the standards that were to come, and in 1973, an agreement was reached to establish an international body with the sole purpose of writing accounting standards to be used internationally. In mid 1973, the IASC (International Accounting Standards Committee) was established; mandated with releasing new international standards, which would be rapidly accepted and implemented worldwide. The ISAC lasted 27 years until the year 2001, when it was restructured to become the International Accounting Standards Board (IASB).
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