Q. Which of the following statements is/are correct about “International Standards of Accounting and Reporting (ISAR)”?
1. It was established after the financial crisis of 2008.
2. United Nations Conference on Trade and Development serves as ISAR’s secretariat.
Select the correct answer using the codes given below:

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither 1 nor 2

Answer: B
Notes:
  • ISAR is the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting, the United Nations focal point on accounting and corporate governance matters.
  • It was established in 1982 by the United Nations Economic and Social Council (ECOSOC).
  • Through its Division on Investment and Enterprise, the United Nations Conference on Trade and Development (UNCTAD) serves as ISAR’s secretariat, providing substantive and administrative inputs to its activities.

Source: Source