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About us
The IFRS Foundation is a not-for-profit, public interest organisation established to develop a single set of high-quality, understandable, enforceable and globally accepted accounting standards—IFRS Standards—and to promote and facilitate adoption of the standards.
IFRS Standards are set by the IFRS Foundation’s standard-setting body, the International Accounting Standards Board.
Find out more about the structure of the IFRS Foundation and our consultative bodies.
High-quality financial information is the lifeblood of capital markets
Accounting standards are a set of principles companies follow when they prepare and publish their financial statements, providing a standardised way of describing the company’s financial performance. Publicly accountable companies (those listed on public stock exchanges) and financial institutions are legally required to publish their financial reports in accordance with agreed accounting standards.
Our mission statement
Our mission is to develop IFRS Standards that bring transparency, accountability and efficiency to financial markets around the world. Our work serves the public interest by fostering trust, growth and long-term financial stability in the global economy
- IFRS Standards bring transparency by enhancing the international comparability and quality of financial information, enabling investors and other market participants to make informed economic decisions.
- IFRS Standards strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money. Our Standards provide information needed to hold management to account. As a source of globally comparable information, IFRS Standards are also of vital importance to regulators around the world.
- IFRS Standards contribute to economic efficiency by helping investors to identify opportunities and risks across the world, thus improving capital allocation. Use of a single, trusted accounting language lowers the cost of capital and reduces international reporting costs for businesses.
IFRS Standards are currently required in more than 140 jurisdictions and permitted in many more. Find out more about the use of IFRS Standards around the world here.