IFRSstandardien

IFRSstandardien, or International Financial Reporting Standards, are a globally used set of accounting standards issued and maintained to enable comparable financial reporting across borders. They are developed by the International Accounting Standards Board (IASB) and overseen by the IFRS Foundation. The objective is to provide high-quality, understandable, and enforceable accounting standards that share a common language for business and financial reporting.

The IASB develops IFRS standards, while the IFRS Interpretations Committee issues clarifications and interpretations. IFRS includes full standards as well as IFRS for SMEs (a simplified set for smaller entities); legacy IAS standards continue to be used where applicable. The standards are periodically updated through exposure drafts and due process.

IFRS has been adopted in more than 140 jurisdictions for financial reporting by publicly accountable entities. They are mandatory for listed companies in many regions and often required for consolidated financial statements. Some jurisdictions permit IFRS for non-listed entities or provide a national GAAP alternative. In some markets, the domestic GAAP continues to apply for certain entities or types of reporting.

Key features of IFRS standards include a principles-based approach and a focus on the recognition, measurement, presentation, and disclosure of transactions to reflect their economic substance. Notable standards include IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers, IFRS 16 Leases, and IFRS 17 Insurance Contracts. The IFRS for SMEs provides a streamlined framework for small and medium-sized entities. The IFRS development process involves public consultation, exposure drafts, and due process.