Which statement best describes the role of an IRB?

The role of an Institutional Review Board (IRB) is primarily focused on the protection of the rights and welfare of human subjects involved in research. The committee is tasked with reviewing research proposals to ensure that ethical standards are upheld and that risks to participants are minimized. This involves assessing the potential benefits of the research against the risks it may pose to participants, ensuring that informed consent processes are adequate, and that the privacy and confidentiality of participants are protected.

While the other options mention important aspects related to research, they do not accurately capture the essence of an IRB's core responsibilities. For instance, financial oversight, ethical standards research, or blanket approval without limitations do not reflect the IRB's primary function, which is to critically evaluate research protocols involving human subjects to ensure ethical compliance. This makes the first option the most accurate representation of the IRB's vital role in the research process.