Which of the following statements is false? The IASB is an independent standard-setting board that develops and approves International Financial Reporting Standards. One of the functions of Financial Reporting Council (FRC) is to give the minister reports and advice on the Accounting Standard setting process in Australia. Australia adopted international accounting standards issued on or after 1 January 2015. One of the functions of the Australian Securities and Investments Commission (ASIC) is to maintain, facilitate and improve the performance of the financial system Australia A Moving to another question will save this response. Question 5 of 18 PC 10:27 A 9/13/20 hp