internationalstandardsforaccountantswhichexplainhow they shouldrecordand showcompanies'financialinformation.InternationalAccounting Standards werepublishedfrom 1973 to 2000 by theInternationalAccounting Standards Committee (IASC), which wasreplacedby theInternationalAccounting Standards Board (IASB) in 2001. Since then, the IASB haschangedsomeInternationalAccounting Standards andreplacedotherswith newInternationalFinancial Reporting Standards (IFRSs).