The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are two such regulatory bodies instituted to ensure consistency and understandability of accounting information. The functions of these agencies are as follows: 1. Setting accounting standards II. Respond to only 10% of public opinion on accounting matters III. Ensure compliance with laws and regulations. IV. Settle controversies/disputes a. I,II and III only b. None of the above c. I, III and IV only d. I and III only e. All of the above