Objectives Of International Financial Reporting Standards Foundation

The international financial reporting standards foundation or ifrs foundation is a nonprofit accounting organisation.

Objectives of international financial reporting standards foundation. To develop in the public interest a single set of high quality understandable enforceable and globally accepted financial reporting standards based upon clearly articulated principles. The challenge of international capital market is to reduce or eliminate the differences in the reporting standards to produce a level playing field for financial reporting and to help create more. The ifrs foundation states that its mission is to develop ifrs. The international accounting standards board the board was established in 2001 and is the independent standard setting body of the ifrs foundation an independent private sector not for profit organisation working in the public interest.

Its main objectives include the development and promotion of the international financial reporting standards ifrs standards through the international accounting standards board iasb which it oversees. 3353113 and is registered as an overseas company in england and wales reg no. Its principal objectives are. The international financial reporting standards foundation or ifrs foundation is a nonprofit accounting organisation its main objectives include the development and promotion of the international financial reporting standards ifrss through the international accounting standards board iasb which it oversees.