The main functions, duties and powers of the Board are as follows: 

1. To provide for accounting standards, also based on international accounting standards, in order to systematize and regulate the accountancy and financial reports;
2. To prepare appropriate modalities in order to develop accounting standards and publish materials relating to accounting standards;
3. To amend, improve and revise accounting standards;
4. To interpret accounting standards;
5. To perform other acts relating to accounting standards.