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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Discover more about the adoption process for IFRS Accounting Standards, and which jurisdictions have adopted them and require their use.
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On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB).
On 26 June 2023 the ISSB issued its inaugural standards—IFRS S1 and IFRS S2—ushering in a new era of sustainability-related disclosures in capital markets worldwide.
The International Accounting Standards Board (Board) has published for public consultation proposed amendments to the definition of 'material'.
The Exposure Draft Definition of Material proposes minor amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors to clarify the definition and improve understanding of the current requirements.
Deadline for submitting comment letters: 15 January 2018
Exposure Draft: Definition of Material—Proposed amendments to IAS 1 and IAS 8
Exposé-sondage: Définition du terme « significatif » (projet de modification d’IAS 1 et d’IAS 8)
Proyecto de Norma: Definición de Material o con Importancia Relativa (Modificaciones propuestas a las NIC 1 y NIC 8)
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