A privately owned company owned and controlled by the International Financial Reporting Standard Foundation that is registered in Delaware in the USA but based in London in the United Kingdom, which issues International Financial Reporting Standards.
The IASB is largely financed by government grants, the largest firms of accountants in the world and other major actors in the financial services industry. It is self-regulating and resists government interference. Its status as an issuer of accounting standards was transformed when its standards were adopted by the European Union for use by all companies quoted on stock exchanges in the member states of the Union from 2005 onwards.
The IASB is subject to criticism for its refusal to consider the needs of any stakeholder within the accounting process but the suppliers of capital to a company. For elaboration see separate entry on accounting standards.
Now partnered by the International Sustainability Standards Board (ISSB) within the International Financial Reporting Standard set up because of the refusal of the IFRS to consider climate change as a mainstream accounting issue.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
