International Financial Reporting Standards (IFRS) Foundation

The IFRS Foundation is an independent, not-for-profit private sector organisation working in the public interest. Its principal objectives are:

• to develop a single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs) through its standard-setting body, the IASB;
• to promote the use and rigorous application of those standards;
• to take account of the financial reporting needs of emerging economies and small and medium-sized entities (SMEs); and
• to bring about convergence of national accounting standards and IFRSs to high quality solutions.