Final answer:
The International Financial Reporting Standards (IFRS) are issued by the A) IASB (International Accounting Standards Board). The IASB is the independent body responsible for the development and publication of IFRS, ensuring that financial statements are understandable and comparable across international boundaries. The correct option is A.
Step-by-step explanation:
The International Financial Reporting Standards (IFRS) are indeed issued by the A) IASB (International Accounting Standards Board). The IASB is an independent organization that develops and approves the IFRS to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.
While the Securities and Exchange Commission (SEC), mentioned in option B, regulates the investment industry and established disclosure standards for publicly traded securities, it does not issue IFRS. Instead, the SEC regulates the financial reporting of companies in the United States.
Similarly, the Financial Accounting Standards Board (FASB), option C, establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations in the United States, but also does not issue IFRS.
Lastly, the European Union (EU), mentioned in option D, is a political and economic union of member states that are located primarily in Europe, and while it requires the use of IFRS for all publicly listed companies, it does not issue IFRS.