The IFRS Foundation has today published its annual report and audited financial statements for the year ended 31 December 2020.
This year’s report showcases the resilience and responsiveness of the International Accounting Standards Board, the Foundation’s staff and the Trustees in their efforts to deliver on the mission to bring transparency, efficiency and accountability to the world’s capital markets.
2020 was shaped by the covid-19 pandemic and the report highlights how the Foundation adapted to the circumstances, moving its entire staff to remote working, embracing virtual meetings and outreach, and adjusting its standard-setting work plan to accommodate stakeholders. It also features reports by Trustee Chair Erkki Liikanen—including a discussion of the Trustees’ 2020 consultation on sustainability reporting—and International Accounting Standards Board Chair Hans Hoogervorst—in which he reflects on a decade of standard-setting as his tenure comes to an end in June 2021.
In addition to the PDF version of the report, an inline XBRL version of the report and XBRL files, prepared using the IFRS Taxonomy, will shortly be available for those who prefer to receive financial data in an electronically tagged format.