Accountant International Study Group - AISG

DEFINITION of 'Accountant International Study Group - AISG'

An organization that studied the differences in accounting practices between various countries. The Accountant International Study Group was formed in 1966 by professionals from Canada, the United Kingdom and the United States. By 1973, the group expanded its membership to include international accounting standards. The group then folded into the International Accounting Standards Committee (IASC) in 1973, which was reorganized under the International Federation of Accountants and eventually became the International Accounting Standards Board (IASB).

BREAKING DOWN 'Accountant International Study Group - AISG'

The Accountant International Study Group helped set the stage for the harmonization of accounting standards across member countries, which helped make the analysis of financial statements easier and adjustments to accounting principles more thorough.