International Accounting Standards Committee. An organization charged with promulgating accounting standards that are applicable internationally, independent of the home country of the company's financial statements.
International Accounting Standards Committee; a committee that attempts to create more harmony among the accounting practices of different countries by identifying preferred practices and encouraging their worldwide acceptance.
International Accounting Standards Committee. Voluntary, private association of over 100 professional associations from 80 countries dealing with questions relating to the submission of accounts, with the aim of formulating, publishing and promoting wordlwide acceptance of principles and regulations governing the submission of accounts which are to be observed during the preparation of annual statements of account, and of accelerating the international harmonisation of standards, accounting principles and methods for the preparation of annual statements of account.