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Mission of the IFRS Foundation and the IASB (Process for developing…
Mission of the IFRS Foundation
and the IASB
IFRS
International Financial Reporting Standards
Not-for-profit
Standard-setters without conflict of interest
Mission
Transparency
International comparability
Accountability
Reduces information gap
Gives investors confidence
Assists regulators
Efficiency
One global system of reporting
Lower costs to produce reporting
IASB
International Accounting Standards Board
Develops the IFRS standards
Formed 2001 in London
Objective (set 2000)
To operate in the public interest
To develop
a single set of financial statements
high quality
transparent and comparable reports
To help
the World's capital markets
and other users
make economic decisions
Process for developing standards
Agenda consultation
Research programme
Standards development
Implementation