The Accounting Standards Committee (ASC) was a UK body formed in 1970 to develop accounting standards.

It:

Issued Statements of Standard Accounting Practice (SSAPs)

Worked to improve consistency in financial reporting

Guided companies on proper accounting treatment

In 1990, the ASC was replaced by the Accounting Standards Board (ASB).

In simple terms, the ASC was an early UK organization that created accounting standards before the ASB took over.