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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Trustees' Review of the Accounting Standards Advisory Forum 2015
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The aim of the 2015 review of ASAF was to assess how ASAF has performed in relation to its Terms of Reference and MOU.
The IFRS Foundation sought input from members of ASAF, the wider accounting standard-setter community and, where appropriate, its advisory bodies. Details of the approach to the review are set out in the Feedback Statement.
Findings from the review
On 1 May 2015 the IFRS Foundation published a Call for Nominations and a Feedback Statement on the review of ASAF.
The Feedback Statement sets out the findings and recommendations following the completion of the review. Feedback on ASAF was positive, with strong support for ASAF and the Board's commitment to ASAF. ASAF has established itself as a key advisory group to the Board.
The review highlights the importance of the work of national standard-setters and regional groups in supporting the Board to achieve its objectives.
The Feedback Statement sets out the actions that the Trustees and the Board will take in response to the matters raised in the review. The actions aim to build on the very positive start to ASAF and enhance its effectiveness.
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