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Of criticism of the International Accounting Standards Committee that the majority of members belonging advanced industrial countries who do not know about the economic environment in the countries that are not advanced True or False?
First of all we have to state that IASC has been replaced by IASB for quite a while now!
I believe that this is a very subjective question, but I will say false!
You do have a point that the majority of members belong to a more advanced industrial county, however all those people work or worked in companies which probably have activities all over the world, including the not so advanced countries.
Also to be part of the IASB you should excel in some accounting/finance matters either academic or professionally.
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