The International Accounting Standards Board (IASB) is an independent organization responsible for developing and promoting international financial reporting standards. Established in 2001, the IASB aims to create a common accounting language that enhances transparency and comparability in financial statements across different countries. This helps investors and stakeholders make informed decisions. The IASB issues the International Financial Reporting Standards (IFRS), which are used by companies in many parts of the world. By providing a consistent framework for financial reporting, the IASB plays a crucial role in improving the quality of financial information and fostering trust in global capital markets.