International accounting is a specialty within the entire discipline that is focused on using specific accounting standards that are as relevant in the US as they are when you are balancing the books of a company overseas.According to the Foundation, their mission statement is to "develop IFRS® Standards that bring transparency, accountability and efficiency to financial markets around the world. Our work serves the public interest by fostering trust, growth, and long-term financial stability in the global economy.The IASB forms part of the three-tier structure employed by the IFRS Foundation and is responsible for setting the IFRS Standards and related technical activities. The IASB is overseen by the Trustees of the IFRS Foundation, responsible for the organisation's governance, the appointment of IASB members and funding. The IFRS Foundation is publicly accountable to a Monitoring Board of capital market authorities