Welcome to the website of the IFRS Foundation and the IASB

Monday 02 May 2016

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How we develop IFRS

International Financial Reporting Standards (IFRS) are developed through an international consultation process, the "due process", which involves interested individuals and organisations from around the world.

The due process comprises six stages, with the Trustees of the IFRS Foundation having the opportunity to ensure compliance at various points throughout:

  1. Setting the agenda
  2. Planning the project
  3. Developing and publishing the Discussion Paper, including public consultation
  4. Developing and publishing the Exposure Draft, including public consultation
  5. Developing and publishing the Standard
  6. Procedures after an IFRS is issued


IASB standard-setting process
* Published for public comment