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International Financial Reporting Standards (IFRS) Foundation

Acronym: IFRS Foundation

General Information

Identification Code: 830882416841-19
Website: [object Object]
Entity Form: The IFRS Foundation has dual registration in Delaware as a s501(c)(3) not-for-profit (non-stock) corporation and in the United Kingdom (UK), as an Overseas Company with a UK establishment.
Registration Category: Non-governmental organisations, platforms and networks and similar
Registration Date: 4/7/2015
Last Update: 3/15/2024
EP Accredited Number: 0

Mission & Interests

Goals: a)develop, in public interest, high-quality, understandable, enforceable and globally accepted standards (IFRS Standards) for general purpose financial reporting based on clearly articulated principles. The IASB is responsible for developing accounting standards (IFRS Accounting Standards) and the ISSB is responsible for developing sustainability disclosure standards (IFRS Sustainability Disclosure Standards). These complementary IFRS Standards are intended to result in the provision of high-quality, transparent and comparable information in financial statements and sustainability disclosures that is useful to investors and other participants in the world’s capital markets in making economic decisions b)promote use and rigorous application of IFRS Standards c)take account of needs of a range of sizes and types of entities in diverse economic settings d)promote and facilitate adoption of IFRS Standards through convergence of national and regional standards and IFRS Standards
Interests Represented: Does not represent commercial interests
Interests:
  • Budget
  • Economy, finance and the euro
  • Single market
Levels of Interest:
  • global

Activities

Main EU Legislative Proposals: The IFRS Foundation follows any initiatives, policies and legislative files that relate to Regulation (EC) No 1606/2002 of the European Parliament and of the Council which declared that IFRS Standards should be incorporated into Union law in order to be applied in the consolidated accounts of companies with securities listed on a regulated market in the Union. In addition, the IFRS Foundation undertakes activities that contribute to the specific objective identified in Article 3(2)(c)(ii) of Regulation EU 2021/6901 (Regulation (EU) 2021/690 of the EUROPEAN PARLIAMENT AND OF THE COUNCIL of 28 April 2021 establishing a programme for the internal market, competitiveness of enterprises, including small and medium-sized enterprises, the area of plants, animals, food and feed, and European statistics (Single Market Programme) and repealing Regulations (EU) No 99/2013, (EU) No 1287/2013, (EU) No 254/2014 and (EU) No 652/2014.) The IFRS Foundation also follows any initiatives, policies and legislative files that relate to Corporate Sustainability Reporting Directive (Directive (EU) 2022/2464 amending Regulation (EU) No 537/2014, Directive 2004/109/EC, Directive 2006/43/EC and Directive 2013/34/EU, as regards corporate sustainability reporting).
Communication Activities: Those relating to the above.
Inter-institutional or Unofficial Groupings: N/A

Head Office

Address: Columbus Building7 Westferry Circus
Post Code: E14 4HD
City: London
Country: UNITED KINGDOM
Phone: [object Object]

EU Office

Address: Columbus Building7 Westferry Circus
Post Code: E14 4HD
City: London
Country: UNITED KINGDOM
Phone: [object Object]

Financial Data

New Organisation: false
Closed Year: [object Object]
Current Year: [object Object]
Complementary Information: €2,149,650 (70.48%) was paid in 2023, the remaining €900,445 (29.52%) is expected in 2024.

Membership Information

Members10 Percent: 0
Members25 Percent: 10
Members50 Percent: 2
Members75 Percent: 2
Members: 14
Members F T E: 5
Info Members: The IFRS Foundation has a total of 358* staff and agents (including staff on a permanent contract, Secondees, Consultants and Agency staff). This figure includes the 14 members of the International Accounting Standards Board (IASB) and 14 members of the International Sustainability Standards Board (ISSB). In addition there are 21 Trustees. Some of these staff and agents may liaise with staff of the European Commission, European Parliament and the European Council during the course of their employment/ terms. *Please note this information is correct as of 31 January 2024

Structure

Structure Type: Structure
Is Member Of: For information on our structure, please see https://www.ifrs.org/about-us/our-structure/
Organisation Members: N/A