The group that sets international preferred accounting practices is called the:

A) AICPA.
B) IASB.
C) CAP.
D) SEC.
E) FASB.

International Preferred Accounting Practices

Best practice accounting principles that are widely accepted and used by companies across different countries.

IASB

The International Accounting Standards Board, an independent organization responsible for developing and issuing International Financial Reporting Standards (IFRS) used globally for financial reporting.

AICPA

American Institute of Certified Public Accountants, a national professional organization for certified public accountants in the United States.