The IFRS Foundation is a not-for-profit, public interest organisation established to develop high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards.
Our Standards are developed by our two standard-setting boards, the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB).
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IFRS Accounting Standards are developed by the International Accounting Standards Board (IASB). The IASB is an independent standard-setting body within the IFRS Foundation.
IFRS Accounting Standards are, in effect, a global accounting language—companies in more than 140 jurisdictions are required to use them when reporting on their financial health. The IASB is supported by technical staff and a range of advisory bodies.
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IFRS Sustainability Disclosure Standards are developed by the International Sustainability Standards Board (ISSB). The ISSB is an independent standard-setting body within the IFRS Foundation.
IFRS Sustainability Standards are developed to enhance investor-company dialogue so that investors receive decision-useful, globally comparable sustainability-related disclosures that meet their information needs. The ISSB is supported by technical staff and a range of advisory bodies.
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Round I topic-based field work
The first round of field test involved 16 companies and was conducted between September and December 2009, which was summarised in the Targeted Field work Results. This first round was designed to assess whether the proposals under Phase II of the project could be applied consistently in practice and to provide an understanding of how the proposed approach will change current practice.
The testing was targeted on specific issues identified and prioritised by the project team.
The Board considered the results from the field test when it developed the Exposure Draft Insurance Contracts.
Participants in the field test were provided with the following materials:
26 October 2009
Questionnaire on Margins [.zip]
19 October 2009
Questionnaire on Presentation of Financial Statements [.zip]
Questionnaire on Embedded Derivatives
15 October 2009
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