What is the role of the AASB, TPB, and ATO relating to statutory, legislative and regulatory requirements regarding the documentation of accounting procedures?
Roles Of AASB, TPB, and ATO
These are the statutory bodies operating in Australia. AASB set up the guidelines for the development of accounting standards, TPB is responsible for the smooth functioning of the taxation system. ATO is an accounting tax officer responsible for overseeing the collection of tax.
Answer and Explanation:
Roles and responsibilities:
Australian Accounting Oversight board: The objective of this board is to develop maintain the accounting standards that are applicable to private and public companies.
TBP: This helps the clients in the following ways:
Tax Officer: Assist the government to obtain the tax.
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from Financial Accounting: Tutoring SolutionChapter 1 / Lesson 33