What role did the Accounting Principles Board (APB) play in the development of accounting standards? What role did the Accounting Principles Board (APB) play in the development of accounting standards? Issued Accounting Research Bulletins (ARBs) superseded by FASB Statements Assumed responsibility for accounting standards after the FASB's establishment Remained non-authoritative in the accounting profession Issued Statements of Position (SOPs) for accounting practices