International Financial Reporting Standards (IFRSs) are published by the International Accounting Standards Board (IASB).  Older standards adopted by the IASB from its predecessor body, the International Accounting Standards Committee, are known as ‘International Accounting Standards' (IASs).

The IASB is the independent standard-setting body of the IFRS Foundation. Its members are responsible for the development and publication of IFRSs and for approving Interpretations of IFRSs as developed by the IFRS Interpretations Committee (formerly called the IFRIC). 

The currently applicable IFRSs and IASs, as well as those with effective dates in the future, are available on CHARIOT (available to members only).

EU adopted IFRSs

The standards issued by IASB must go through due process of endorsement before becoming law in the EU.  More details with regard to this endorsement process, as well the up to date endorsement status of standards and interpretations issued by the IASB, are available on the European Commission's accounting webpages and the website of the European Financial Reporting Advisory Group.

Use of IFRS for SMEs in Ireland and the UK

Whilst the IFRS for SMEs formed the basis for the development of FRS 102, the standard itself has not been endorsed by the European Commission for use in the EU, nor has it been adopted for use in Ireland and the UK by the FRC.  It is not available, therefore, to companies preparing their financial statements to conform with company law in either jurisdiction. 


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