Adoption and copyright of IFRS Standards

Is your jurisdiction considering adopting IFRS Standards or the IFRS for SMEs Standard? Is there a standard approach? What is the process, and how can the IFRS Foundation assist you?

Every jurisdiction is different, and each has its own mix of expertise, professional infrastructure and regulatory interests. This might affect the means of adoption that is best suited.

The IFRS Foundation recommends adoption of IFRS Standards in a single step, but recognises that for some jurisdictions it may first be necessary to converge their local standards with IFRS Standards before moving to full adoption of IFRS Standards. We have an adoption guide which will provide invaluable guidance when mapping out your route to adoption.

Methods of adoption

Each jurisdiction is allocated a project manager from the Translation, Adoption and Copyright team as a key support and contact. Please contact the team as early on in your process as possible, ideally before a road map is officially announced, so that we can discuss the various adoption and licensing methods and provide advice on translation where necessary.

These are the most common questions we are asked by jurisdictions with an interest in adopting IFRS Standards.

Frequently asked questions

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