An International Financial Reporting Standard (IFRS) is an accounting standard issued by the International Accounting Standards Board (IASB) for use by quoted companies in the whole of the European Union and more than 70 other jurisdictions.
The accounting standards of the USA, Japan and other nations are converging with International Financial Reporting Standards but there are some significant differences.
See also accounting standards and the entry for the International Accounting Standards Board and the International Sustainability Standards Board where the criticisms generally applicable to IFRS standards are noted.
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