Accounting Standard Board
Accounting Standard Board is also known as ASB which is established in 1990 to replace the Accounting Standard Committee known as ASC. It is formerly a recognized body to set the accounting standards in the United Kingdom.
Accounting Standard Board issued the Financial Reporting Standards as well as Abstract through its offshoot the Urgent Task Force.
The Accounting Standard Board was abolished in 2012. The roles for the setting the accounting standard was transferred to the parent body which is the Financial Reporting Council. The remaining functions were taken over by a new body the Accounting Council.