The correct answer is: To assist auditors in forming an opinion regarding whether financial statements conform with IASs/IFRSs. It assists the Board of the IASB in the development of future International Financial Reporting Standards and in its review of existing standards. It assists national standard setting bodies in developing national standards.These are specifically stated as purposes of the Framework.

A conceptual framework helps to provide clarity on the fundamental principles governing the preparation and presentation of accounts, however, it cannot prevent misleading accounts just as traffic laws don't stop people speeding.