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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Revisions to the Preface to IFRS Standards
At its October 2018 meeting, the International Accounting Standards Board decided to revise the Preface to International Financial Reporting Standards (Preface). The October agenda paper can be accessed here.
The Board decided to remove information from the Preface that is now more appropriately covered by the Constitution or Due Process Handbook of the IFRS Foundation, as well as updating the Preface for changes in its house style and brand.
The revised Preface will be included in all editions of the bound volumes of the Standards, beginning with Required IFRS Standards 2019 published January 2019.
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