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).
Why have global accounting and sustainability standards? What benefits do they bring to the world economy?
Discover more about the adoption process for IFRS Accounting Standards, and which jurisdictions have adopted them and require their use.
Access our Standards, Interpretations and related materials here. If you register with us for a free acccount, you can access PDF files of this year's consolidated IFRS Accounting Standards, IFRIC Interpretations, the Conceptual Framework for Financial Reporting and IFRS Practice Statements, as well as available translations of Standards.
What do we do once we’ve issued a Standard? We undertake various activities to support the consistent application of IFRS Standards, which includes implementation support for recently issued Standards. We do this because the quality of implementation and application of the Standards affects the benefits that investors receive from having a single set of global standards.
The work plan includes all projects undertaken by the IFRS Foundation Trustees, the International Accounting Standards Board (IASB), the International Sustainability Standards Board (ISSB) and the IFRS Interpretations Committee. Public consultations are a key part of all our projects and are indicated on the work plan.
Read our latest news, features and press releases and see our calendar of events, meetings, conferences, webinars and workshops.
We offer a broad range of products and premium services, including print and digital editions of the IFRS Foundation's major works, and subscription options for all IFRS Accounting Standards and related documents. Every purchase contributes to the independence and funding of the IFRS Foundation and to its mission.
On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB).
The ISSB will deliver a global baseline of sustainability disclosures to meet capital market needs.
At its November 2022 meeting, the International Accounting Standards Board (IASB) decided to add to its work plan an accelerated project proposing narrow-scope amendments to IAS 12 Income Taxes.
In December 2021, the Organisation for Economic Co-operation and Development (OECD) published its Pillar Two model rules. The rules aim to address the tax challenges arising from the digitalisation of the economy, and were agreed by more than 135 countries and jurisdictions representing more than 90% of global GDP.
The Pillar Two model rules provide a template for the implementation of a minimum corporate tax rate of 15% that large multinational companies would pay on income generated in each jurisdiction in which they operate.
The IASB’s project responds to stakeholders’ concerns about the potential implications of the imminent implementation of these rules on the accounting for income taxes. In particular, the IASB has tentatively decided to introduce:
The IASB expects to publish an exposure draft in January 2023. Due to the accelerated nature of the project, the IASB has decided on a comment period of 60 days, which is subject to approval by the Due Process Oversight Committee.
The IASB aims to finalise any amendments, which would be effective immediately, in the second quarter of 2023.
You need to Sign in to use this feature
Your action was not processed, please try again later
IFRS Foundation cookies
Essential cookies are required for the website to function, and therefore cannot be switched off. They include managing registrations.Cookie details
We use analytics cookies to generate aggregated information about the usage of our website. This helps guide our content strategy to provide better, more informative content for our users. It also helps us ensure that the website is functioning correctly and that it is available as widely as possible. None of this information can be tracked to individual users.Cookie details
Preference cookies allow us to offer additional functionality to improve the user experience on the site. Examples include choosing to stay logged in for longer than one session, or following specific content.Cookie details