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).
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.
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.
The IFRS Foundation Trustees and Value Reporting Foundation (VRF) Board have announced an updated expected target date for the consolidation of the VRF into the IFRS Foundation as Monday 1 August 2022, to finalise the remaining procedures necessary to complete the legal consolidation.
The consolidation follows the commitment made at COP26 to consolidate staff and resources of leading global sustainability disclosure initiatives to support the work of the International Sustainability Standards Board (ISSB) and follows the successful consolidation of the Climate Disclosure Standards Board into the IFRS Foundation in February 2022.
Both governing boards formally approved the consolidation in June 2022.
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