international federation of Accountants

IFRS foundation – explained

The IFRS foundation is the oversight body of the various boards/committees such as the IASB, IFRS, interpretation committee and so forth. It is an independent, non for profit private sector organization working working in public interest.Its principle objectives include:

  • To develop single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRS) through its standard
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What is International Federation of Accountants (IFAC)?

IFAC is the global organization for the accountancy profession. It is dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC has 167 members and associates in 127 countries around the world, representing approximately 2.5 million accountants in public practice, education, government services, industry and commerce.

IFAC provide the structure … Read the rest