The IFRS Foundation is a nonprofit organisation that sets corporate financial reporting standards for global capital markets, tracing its origin to the International Accounting Standards Committee founded in 1973 and restructured into its present form in 2001. Its aim is a single set of high quality, understandable, enforceable and globally accepted financial reporting standards developed in the public interest, work carried out through its main standard-setting body, the International Accounting Standards Board. The Foundation's standards are required in more than 140 jurisdictions, and in 2021 it established a sister body, the International Sustainability Standards Board, to extend its work to sustainability-related disclosure.
Facts
Founding YearSourced to the subject's own account Founding DateSourced to the subject's own account HeadquartersSourced to the subject's own account Geography
Country or Jurisdiction ServedWikidata Q5970856, property P17 (country). Classification
Institution SubtypeSourced to the subject's own account In the Other Atlases
Sources
1. IFRS Foundation (Wikipedia)
WikipediaHistory section, first two sentences
In 2001, the International Accounting Standards Committee (IASC, established 1973) reformed itself under a new dual structure consisting mainly of an independent standard-setting body, the International Accounting Standards Board, and a foundation that appoints and funds the IASB, initially named the IASC Foundation. The IASB assumed accounting standard-setting responsibilities from the IASC on 1 March 2001.
Organisation section
It maintains a multi-location model with offices in London (main base for IASB and central staff), Montreal (ISSB hub for the Americas), Frankfurt (ISSB seat and hub for EMEA), Beijing (ISSB hub for emerging economies and Asia engagement), San Francisco (ISSB technical support), and Tokyo (support for both IASB and ISSB in Asia-Oceania), to support its global mission.
Introduction, institution-subtype
Its aim is a single set of high quality, understandable, enforceable and globally accepted financial reporting standards developed in the public interest, work carried out through its main standard-setting body, the International Accounting Standards Board.
View the Source 2. Wikidata
Wikimedia Foundation
Reader Challenges (0)
No disputes yet. Spotted an error or a better source? Open the first one.
Sign in to dispute this or suggest a correction.