The Financial Reporting Standards Board, abbreviated as FRSB, is a body tasked with the responsibility of setting and maintaining high-quality accounting standards for financial reporting. Through its work, the FRSB ensures transparency, accountability, and accuracy in financial statements, which are critical for stakeholders such as investors, regulators, and the public.\n\nThe FRSB works collaboratively with other standard-setting bodies and organizations to harmonize accounting practices and uphold principles that align with the Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). For example, a company preparing its year-end financial statements would follow the standards issued by the FRSB to comply with reporting requirements. This includes adhering to standards that govern how income, assets, liabilities, and equity are recorded and presented.\n\nOverall, the FRSB plays an integral role in enhancing the quality and reliability of financial information across various industries.