Question

Obtains funding to the IFRS standard-setting process.

A) International Accounting Standards Board (IASB)
B) Financial Accounting Standards Board (FASB)
C) Public Company Accounting Oversight Board (PCAOB)
D) International Federation of Accountants (IFAC)

Answer 1

The International Federation of Accountants (IFAC) obtains funding for the IFRS standard-setting process.

Step-by-step explanation:

The entity that obtains funding for the International Financial Reporting Standards (IFRS) standard-setting process is the International Federation of Accountants (IFAC).

The International Federation of Accountants (IFAC) is a global organization that represents accounting professionals worldwide. It plays a key role in funding the development and promotion of IFRS, which are international accounting standards used by companies around the world.

IFAC provides financial support to the International Accounting Standards Board (IASB), which is responsible for setting the IFRS standards. The IASB develops and publishes the IFRS standards with the objective of ensuring financial reporting comparability and transparency.