DEFINITION of 'Accountant International Study Group - AISG'

The Accountant International Study Group (AISG) was an organization that studied the differences in accounting practices between various countries. The Accountant International Study Group was formed in 1966 and included professionals from Canada, the United Kingdom and the United States. In 1973, the Accountant International Study Group was absorbed into the International Accounting Standards Committee (IASC). Eventually, the International Accounting Standards Committee was transformed into the International Accountant Standards Board (IASB) which is still operational today and works to establish and coordinate accounting standards across the globe, which assists analysts with their examination of financial statements. 

BREAKING DOWN 'Accountant International Study Group - AISG'

The Accountant International Study Group helped set the stage for the adoption of consistent accounting standards across member countries. Stock and bond analysts across the globe examine subject companies' financial statements and reports. Until a global standard was established, it was very difficult to make meaningful comparisons between companies' data, or even to be sure if data was factual. The adoption of a worldwide set of accounting standards and a board that sets and oversees them has helped bolster transparency of markets and available data regarding publicly traded companies. Without these accounting standards, global markets may not have evolved to the point they are at today.

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