Which statement best describes the role of an organization like the International Accounting Standards Board?

The role of the International Accounting Standards Board (IASB) is primarily to develop and promote the use of International Financial Reporting Standards (IFRS), which are accounting standards designed to bring transparency, accountability, and efficiency to financial markets around the world. By creating a set of accounting standards that can be consistently applied internationally, the IASB aims to facilitate comparability and reliability in financial reporting across different countries. This is essential for investors, businesses, and regulators, promoting confidence and understanding among different stakeholders in the global economy.

The other options focus on specific regulatory functions or policy management that do not align with the core mission of the IASB. Organizations such as national regulatory bodies usually handle the oversight of banks and financial institutions, manage tax policy at national levels, and address corporate mergers and acquisitions. These tasks are distinct from the IASB's focus on establishing universal accounting standards.