Why we work with regulators
The IFRS Foundation was founded on the belief that better information supports better economic and investment decisions. As a public interest organisation, we work to achieve this vision through the development of high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards that help investors and other market participants make economic decisions. The IFRS Foundation, therefore, works with those regulator organisations which are responsible for maintaining the efficiency of these capital markets around the world.
High-quality IFRS Standards:
- help market regulators fulfil their investor protection mandate and promote investor confidence.
- support prudential regulators in their work by helping to identify systemic risks and weakness within the financial system.
- provide a range of enforcers with a common basis for financial reporting on which to structure their work.
Regulators have substantial direct knowledge of financial reporting and working relationships with issuers within their jurisdictions. In our work with regulators we:
- seek input from regulators throughout the standard-setting process to ensure IFRS Standards are capable of enforcement across a range of jurisdictions;
- support them in their role in the adoption of IFRS Standards;
- support them in the role that they play in supporting consistent application of IFRS Standards; and
- raise awareness about new IFRS Standards and the materials and resources that we provide to support the implementation of those Standards.
How we work with regulators
International relationships
In support of our shared interest in the efficiency of capital markets, the IFRS Foundation works with various regulator organisations and their members in connection with our standard-setting and activities to support consistent application.
We have also entered into agreements with some of these organisations. Details of those agreements can be found below.
- International Organization of Securities Commissions (IOSCO)
- European Securities and Markets Authority (ESMA)
Standards development
We welcome contributions from regulators in the development of new IFRS Standards. Regulators provide feedback to us through comment letters and outreach. View a list of consultations that are currently open for comment.
Supporting consistent application
Regulators support the consistent application of IFRS Standards through their enforcement activities, and by raising awareness of new Standards and encouraging the readiness of issuers in their jurisdiction.
Supporting consistent application of IFRS Standards
The principle-based nature of IFRS Standards can sometimes lead to differences in the interpretation of how to apply those principles. Regulators alert us to these differences and application queries.
Some application queries regarding IFRS Accounting Standards are addressed by the IFRS Interpretations Committee (Interpretations Committee). Find out how to submit an Accounting Standard application query to the Interpretations Committee.
Resources for regulators
Supporting consistent application
Access IFRS Accounting Standards, IFRIC Interpretations, official translations, and other authoritative guidance, illustrative examples and bases for conclusions via the IFRS Accounting Standards Navigator.
Materials available on the consistent application of IFRS Accounting Standards include:
- Supporting materials for individual IFRS Accounting Standards
- Information on how we help support consistent application of IFRS Accounting Standards—this hub includes information on the IFRS Interpretations Committee, agenda decisions and more
- Supporting materials for the IFRS for SMEs Accounting Standard
Resources for jurisdictions and stakeholders
- Find information on how our translation, adoption and copyright team offers assistance for jurisdictions that are first-time adopters of IFRS Standards.
- Read about the Emerging Economies Group, which was created with the aim of enhancing the participation of emerging economies in the development of IFRS Accounting Standards.
Supporting consistent application
Access IFRS Sustainability Disclosure Standards (also known as ISSB Standards) and accompanying guidance via the IFRS Sustainability Standards Navigator.
Find supporting materials for the IFRS Sustainability Disclosure Standards.
Resources for jurisdictions and stakeholders
- Read about the need for a global baseline for capital markets.
- Read about the IFRS Foundation's Partnership Framework, through which the Foundation supports capacity building for effective implementation and adoption of sustainability-related disclosure practices.
- We are working with regulators to support the adoption of ISSB Standards. The Preview of the Inaugural Jurisdictional Guide for the adoption or other use of ISSB Standards provides information that jurisdictions may find helpful as they design and plan their journey to the adoption or other use of ISSB Standards. Read about IOSCO's endorsement of ISSB Standards.
- Alerts—register to receive news and alerts; as a registered user, you can choose 'follows' that will allow you to focus on news stories linked to these follows. Visit your dashboard to adjust your follows and email notification settings.
- Work plan—the work plan sets out the IFRS Foundation’s projects.
- Open consultations—view or submit a comment letter to consultations currently open for comment.
