Developing accounting standards for the global economy is a collaborative exercise founded on transparency, full and fair consultation, and accountability.
Our Due Process Handbook—the blueprint for the standard-setting process, which ensures that IFRS Standards are developed free from undue influence—requires that the Board consider the perspectives of those affected by IFRS Standards globally.
To enable us to consult widely, we work closely with a wide network of advisory committees and bodies, representing the many different stakeholder groups that have an interest in and are affected by financial reporting.
These groups and bodies are important channels for us to gather input on our work; the groups enable us to efficiently consult with interested parties from a range of backgrounds and geographical regions.
Accounting Standards Advisory Forum
An advisory forum consisting of national standard-setters and regional standard-setting bodies, contributing towards the goal of developing globally accepted high-quality accounting standards
IFRS Advisory Council
The IFRS Advisory Council is the formal advisory body to the International Accounting Standards Board and the Trustees of the IFRS Foundation.
Standing consultative groups
Capital Markets Advisory Committee
An independent committee providing the Board with regular input from users of financial statements
Emerging Economies Group
A group with the aim of enhancing the participation of emerging economies in the development of IFRS Standards
Global Preparers Forum
An international independent body providing the Board with input from companies preparing financial statements
Islamic Finance Consultative Group
A group established to focus on potential challenges in applying IFRS Standards to Shariah-compliant instruments and transactions
SME Implementation Group
A group established to support the international adoption of the IFRS for SMEs® Standard and monitor its implementation
World Standard-setters conferences
National standard-setters and regional bodies (NSS) are important partners in our work to achieve the G20-endorsed objective of global accounting standards
Transition resource groups (TRGs)
TRG for Revenue Recognition
A TRG established by the Board and the US Financial Accounting Standards Board to support implementation of IFRS 15
Project consultative groups
Consultative Group for Rate Regulation
A consultative group established to inform the project on rate regulation
Effects Analysis Consultative Group
A consultative group established to agree on a methodology for fieldwork and effects analyses
Financial Crisis Advisory Group
An advisory group established in response to the 2008 global financial crisis
Financial Instruments Working Group
A working group established to inform the project on financial instruments
Insurance Working Group
A working group to help the Board analyse accounting issues relating to insurance contracts
Lease Accounting Working Group
A working group established by the IASB and the US FASB to help develop the lease accounting standards
Valuation Expert Group
A group established to assist with the development of educational material to support IFRS 13