Question 1 Introduction
The Institute of Chartered Accountants in England and Wales is a member of the Consultative Committee of Accountancy Bodies.
The term 'international accounting standards' includes International Accounting Standards (IAS), International Financial Reporting Standards (IFRS), and Financial Reporting Standards (FRS).
The Companies Act 2006 requires the directors to produce the financial statements in accordance with applicable accounting standards, or state details and reasons for departures from the standards.
The Conceptual Framework for Financial Reporting states the rules by which accounts must be produced.
The Government Department for Business, Energy and Industrial Strategy can help businesses find finance and write a business plan.
The Institute of Chartered Accountants in England and Wales is a member of the Consultative Committee of Accountancy Bodies.
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