Accounting Council

Business, Legal & Accounting Glossary

Definition: Accounting Council



Full Definition of Accounting Council


A body established in 2012 to take over certain functions of the former Accounting Standards Board.

The main role of the council is to advise its parent body, the Financial Reporting Council (FRD), on matters of accounting and financial reporting policy.

The responsibility for issuing Financial Reporting Standards now belongs to the FRC, although the Accounting Council typically has a hand in their development.


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Accounting Council. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/accounting-council/ (accessed: December 03, 2020).
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Accounting Council. PayrollHeaven.com. Retrieved December 03, 2020, from PayrollHeaven.com website: https://payrollheaven.com/define/accounting-council/

Definition Sources


Definitions for Accounting Council are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 25th August, 2019 | 40 Views.