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.
In May 2023, the International Accounting Standards Board (IASB) produced a webcast to further explain the Equity Method project’s objective and approach; the IASB’s tentative decisions; and the project’s next steps.
The IASB has moved its Equity Method project from the research programme to the standard-setting work plan.
IFRS Accounting Standards require the application of the equity method of accounting to investments in associates and joint ventures in an investor’s consolidated financial statements. It is also permitted in separate financial statements for investments in subsidiaries, associates and joint ventures.
The project’s objective is to develop answers to application questions about the equity method, as set out in IAS 28 Investments in Associates and Joint Ventures, using the principles derived from IAS 28.
Moving to the standard-setting work plan of this project means that the IASB believes it has enough evidence to develop requirements to answer application questions in the project’s scope.
The IASB plans to publish an exposure draft of proposed amendments for public consultation.
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