The Accounting Standards Board (ASB) was a UK organization responsible for issuing accounting standards and improving financial reporting.

It:

Developed Financial Reporting Standards (FRSs)

Set guidelines for preparing financial statements

Worked to ensure transparency and consistency in accounts

The ASB later became part of the Financial Reporting Council (FRC), which now oversees accounting standards in the UK.

In simple terms, the ASB was a UK body that created accounting rules for companies before its role was taken over by the FRC.