The IASB publishes Request for Information Third Agenda Consultation to help shape the Board’s thinking when determining how to prioritise its activities and what new projects to add to its work plan for 2022 to 2026

IFRS Foundation Trustees continue their work on proposals to create a new sustainability-reporting Board, with an update on feedback to the original consultation and a consultation on proposed changes to the IFRS Foundation Constitution

The Board completes standard-setting in response to Interest Rate Benchmark Reform

IFRS Foundation Trustees publish a revised version of the Due Process Handbook

IFRS Foundation Trustees consult on sustainability reporting

The Board responds to the covid-19 pandemic by reconsidering the timelines of key publications and publishing dedicated material supporting application of IFRS Standards   

IFRS Foundation launches a multi-year digital transformation programme 

Revised Conceptual Framework for Financial Reporting issued, setting out the fundamental concepts of financial reporting that underpin IFRS Standards. The revised Conceptual Framework replaces the 2010 Conceptual Framework

Erkki Liikanen appointed Chair of the Trustees

IFRS Foundation relocates from the City of London to Canary Wharf 

IFRS 17 Insurance Contracts issued, representing a fundamental overhaul of insurance accounting

IFRS Foundation launches new website

IFRS 16 Leases issued, requiring all leases to be reported on a company's balance sheet as assets and liabilities

Trustees complete strategy review, leading to increased focus on implementation support and digital reporting, reduction in board size to 14

The Board completes its second agenda consultation and establishes 'Better Communication in Financial Reporting' as a priority until 2021

IFRS Foundation publishes a statement of its mission: to develop IFRS Standards that bring transparency, accountability and efficiency to financial markets around the world

The Board completes its first review of the IFRS for SMEs Standard, making limited targeted improvements

IFRS 9 Financial Instruments issued, completing response to the financial crisis

IFRS 15 Revenue from Contracts with Customers, a converged standard, issued jointly with FASB

Charter sets out working relationships between the Board and the members of the International Forum of Accounting Standard Setters

The IFRS Foundation publishes first annual Pocket Guide to IFRS Standards and adoption 

The Board launches Investors in Financial Reporting programme with support from leading members of the global investment community

Accounting Standards Advisory Forum (ASAF) is established

The Board completes first post-implementation review of a major Standard

The Board introduces comprehensive 'effect analysis' as part of due process review

IFRS Foundation Trustees issue a press release about their completed strategy review, setting out recommendations in four areas:

• the IFRS Foundation's mission, specifically the public interest served by the Foundation’s work;
• governance;
• the process and procedures used by the Foundation and the IASB; and
• the organisation's financing

Monitoring Board completes governance review, proposes to expand membership and increase openness

Role of Interpretations Committee is enhanced following Trustee review 

IFRS Foundation opens Asia-Oceania regional office in Tokyo

The Board completes its first agenda consultation, introduces a research programme

The Board issues three IFRS Standards on accounting for and disclosures about interests in other entities

The Board and FASB issue converged fair value measurement and disclosure requirements

The Board issues amendments to IAS 19 Employee Benefits to provide investors and other users with a clear picture of an entity’s commitments resulting from defined benefit plans

Trustees establish the IASB Emerging Economies Group, in response to G20 request

IASB and FASB issue converged offsetting disclosure requirements

IASB and FASB align presentation requirements for other comprehensive income

Michel Prada appointed Chair of the Trustees 

Hans Hoogervorst appointed as Chairman of the Board effective 1 July 2011

The Board revises IFRS 9 to add requirements related to the classification and measurement of financial liabilities, including embedded derivatives and 'own credit risk'

The Board and FASB complete the first phase of their joint project to develop an improved conceptual framework

IFRS Foundation launches programme to consult more widely with investors

IFRS Foundation Monitoring Board established, providing enhanced public accountability

Trustees expand the Board to 16 members and introduce triennial public consultation on the Board's agenda

The Board issues the IFRS for SMEs^® Standard

The Board issues the chapters of IFRS 9 Financial Instruments relating to classification and measurement of financial assets

Trustees restructure the IFRS Advisory Council to comprise representatives of organisations, rather than personal appointments, with the goals of obtaining views of a wider range of interested parties and giving greater authority to views received

Report of the Financial Crisis Advisory Group to the IASB and FASB about the standard-setting implications of the global financial crisis

The Board and the US Financial Accounting Standards Board form a Financial Crisis Advisory Group to guide joint response to crisis

The Board and FASB accelerate convergence programme

The Board issues IFRS 8 Operating Segments, to reduce differences between IFRS Standards and US GAAP

Board issues IFRS 7 Financial Instruments: Disclosures, to improve disclosures about financial instruments and capital

The Board issues second Standard, IFRS 2 Share-based Payment, responding to investors' concerns about omission of expenses arising from stock options and similar transactions with employees

The Board completes other priority reforms to IFRS Standards by issuing IFRS 3-6

IASB launches project to develop a separate accounting framework for small and medium-sized entities (SMEs)

The Board introduces live internet broadcast of its meetings

The Board completes priority reforms to Standards inherited from IASC in preparation for first-time adoption by major jurisdictions

The Board issues first Standard—IFRS 1 First-time Adoption of International Financial Reporting Standards

The Board hosts the first of what will become annual meetings of world accounting standard-setters

The Board and the US Financial Accounting Standards Board (FASB) sign 'Norwalk Agreement' to improve and converge IFRS Standards and US GAAP

The International Accounting Standards Board holds its first meeting, announces initial technical agenda, adopts IASC Standards

IFRS Foundation is established, with Paul Volcker appointed Chairman of the Trustees, Sir David Tweedie as Chairman of the Board

IASC agrees to restructure itself into a full-time International Accounting Standards Board, overseen by independent Trustees. A Strategy Working Party report is released, as well as press releases on IASC restructure member approval and a new constitution

IASC completes its standard-setting, and releases a statement providing transition suggestions to a new Board

IASC opens its meetings to public observation

IASC approves the formation of a Standing Interpretations Committee (SIC) to prepare interpretations of International Accounting Standards 

IASC completes its 'comparability and improvements project', revising ten Standards, substantially reducing the range of accounting policy choices under international standards, and paving the way for future assessment of the Standards by IOSCO

With the issuance of IAS 31 Financial Reporting of Interests in Joint Ventures, IASC completes its initial comprehensive set of 31 International Accounting Standards

IASC publishes Statement of Intent Comparability of Financial Statements, indicating its intent to reduce the number of alternative accounting treatments permitted under International Accounting Standards

IASC publishes the Framework for the Preparation and Presentation of Financial Statements—the first international 'conceptual framework'