Oversight of the accounting standard setting process in Australia is the responsibility of the: Select one: Australian Securities and Investment Commission. Accounting Standards Review Board. Financial Reporting Council. Australian Accounting Standards Board. The IASB often provides support materials for accounting standards that include: Select one: Implementation Guidance. Illustrative Examples Basis for Conclusions. All of the above. The statutory functions of the Australian Accounting Standards Board include: Select one: To develop a conceptual framework for the purpose of evaluating proposed standards. To make accounting standards under section 334 of the Corporations Act 2001. To participate in and contribute to the development of a single set of accounting standards for worldwide use. All of the above. In 2014, the IASB considered a proposal from the Korea Accounting Standards Board (KASB) to make revisions to IAS 21 The Effects of Changes in Foreign Exchange Rates. In considering this proposal, the first step undertaken by the IASB would be to: Select one: Publish an Exposure Draft. Form a working group either with or without members of the KASB. Evaluate the issue and decide whether to add it to the IASB's agenda. Develop and publish a Discussion Paper