In the United Kingdom, which entities are required to prepare financial statements under IASB/IFRS standards?

• A. All listed companies on the London Stock Exchange
• B. Only government agencies
• C. All private companies
• D. Universities and charities only

Answer: (A)

In the UK, IFRS is the required framework for financial statements of publicly listed entities. Companies listed on the London Stock Exchange must prepare their accounts in accordance with IFRS as adopted in the UK, which provides consistency and comparability with other international reporting.

Other groups—government agencies, private companies, universities, and charities—generally use different standards (such as UK GAAP or charity SORPs) and are not required to prepare IFRS-compliant statements unless there are special circumstances (like being part of a listed group or meeting specific investor requirements).

So the reason this option is best is that the obligation to use IFRS in the UK applies to listed companies on the London Stock Exchange, not to the non-listed entities mentioned in the other choices.