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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 Disclosure 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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IFRS SUSTAINABILITY

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Provisions—Targeted Improvements

Provisions—Targeted Improvements

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CONSULTATION FEEDBACK

PROJECT HISTORY

PROJECT NEWS

MEETINGS

Current stage

On 12 November 2024 the International Accounting Standards Board (IASB) published the Exposure Draft Provisions—Targeted Improvements.

The Exposure Draft sets out proposals for three improvements to IAS 37 Provisions, Contingent Liabilities and Contingent Assets. It is open for comment until 12 March 2025.

IASB® Update June 2025

The IASB met on 18 June 2025 to discuss a summary of the feedback on its Exposure Draft Provisions—Targeted Improvements. The Exposure Draft proposes targeted amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets.

The IASB was not asked to make any decisions.

Next milestone

Decide Project Direction

Previous meeting

Accounting Standards Advisory Forum July 2025

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