Adoption and copyright
When a country adopts IFRS, it is often necessary to publish the IFRSs in the official gazette, and allow them to be freely accessed and distributed. The IFRS Foundationrecognises this, and will work with the entity that has the legal authority to set financial reporting standards to ensure that copyright restrictions on the material adopted do not prevent the adoption of IFRSs.
This is accomplished by entering into an agreement with the appropriate entity to waive the IFRS Foundation’s copyright on the requirements within that jurisdiction. The requirements excludes additional material such as Bases for Conclusions, Implementation Guidance, and Illustrative Examples. An annual fee to assist in funding the continued development of IFRSs by the IFRS Foundation will form part of this agreement.
If a country requires the IFRSs in English, or a language that already has an official translation, the IFRS Foundation will provide the requirements in the appropriate language. If an official translation does not exist, the IFRS Foundation will work with the appropriate entity to create a translation following the Official Translation Process.
Once the agreement has been signed, the requirements in the appropriate language may be distributed freely within that jurisdiction, without copyright restriction. The IFRS Foundation maintains the copyright on the requirements outside of that jurisdiction, and also the copyright on the additional material (Bases for Conclusions, Implementation Guidance, Illustrative Examples etc) both inside and outside of that jurisdiction.