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Is your jurisdiction considering adopting IFRS Accounting Standards or the IFRS for SMEs Accounting Standard? Is there a standard approach? What is the process, and how can the IFRS Foundation assist you?

Every jurisdiction is different, with its own expertise, professional infrastructure and regulatory interests. These can affect which method of adoption is most suitable.

The IFRS Foundation recommends adopting IFRS Accounting Standards in a single step, but recognises that for some jurisdictions it may first be necessary to converge local standards with IFRS Accounting Standards. Our adoption guide provides the information you need when planning for your jurisdiction.


The IFRS Foundation only permits the requirements of the IFRS Accounting Standards to be adopted into legislation. The IFRS Accounting Standards requirements do not include additional materials such as Bases for Conclusions, Implementation Guidance and Illustrative Examples. Distribution of the additional material will require a separate licence. This is also true of the IFRS for SMEs® Accounting Standard.

The IFRS Foundation will provide the requirements in the appropriate language. If an official translation does not yet exist, the IFRS Foundation will work with the appropriate entity to create it, following the official translation process.

Each jurisdiction is allocated a project manager from the Translation, Adoption and Copyright team as a key support and contact. Please contact the team as early in the process as possible, ideally before a road map is officially announced, so that we can discuss the various adoption and licensing methods, and provide advice on translation where necessary.