Accounting Standards Steering Committee (ASSC)

Breadcrumb Abstract Shape
Breadcrumb Abstract Shape

Accounting Standards Steering Committee (ASSC)

The Accounting Standards Steering Committee (ASSC) was a UK committee formed in 1969 to begin the development of formal accounting standards.

It:

Issued early accounting guidelines

Published Statements of Standard Accounting Practice (SSAPs)

Worked to improve consistency in financial reporting

Later, the ASSC was renamed and replaced by the Accounting Standards Committee (ASC).

In simple terms, the ASSC was an early UK committee that helped start the process of setting official accounting standards.