The Accounting Standards Board (ASB) was the recognised body for setting accounting standards in the UK from its establishment in 1990 until its functions were subsumed under the Financial Reporting Council (FRC) in 2012.
The Accountancy Investigation and Discipline Board (AIDB) was an independent regulatory body responsible for overseeing the accountancy profession, investigating allegations of accounting malpractice, and ensuring adherence to high professional standards.
A detailed overview of FRS 102, an accounting standard issued by the Financial Reporting Council in 2013 to supersede previous UK GAAP, bringing it in line with international standards.
