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.
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The IFRS Foundation has made available a package of 35 supporting modules to help those applying the IFRS for SMEs Standard. The Standard is specifically aimed at companies that do not have public accountability—they don’t have debt or equity traded in a public market and don’t hold assets in a fiduciary capacity for a broad group of outsiders.
The modules are also helpful to those consuming financial statements prepared using the Standard and to students and others who are learning about it.
There is one supporting module per section of the Standard. Each module explains the requirements in the corresponding section of the Standard, discusses the significant estimates and other judgements relevant for that section, and provides a comparison with full IFRS Standards. In addition, the package of modules contains more than one thousand examples and over 350 multiple-choice questions, allowing people to test their own understanding of the Standard.
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