The IFRS Foundation is a not-for-profit, public interest organisation established to develop a single set of high-quality, understandable, enforceable and globally accepted accounting standards—IFRS Standards—and to promote and facilitate adoption of the standards. IFRS Standards are set by the IFRS Foundation’s standard-setting body, the International Accounting Standards Board. Find out more about the structure of the IFRS Foundation and consultative bodies.
Our mission is to bring transparency, accountability and efficiency to financial markets around the world by developing IFRS Standards. Our work serves the public interest by fostering trust, growth and long-term financial stability in the global economy.
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- IFRS Standards bring transparency by enhancing the international comparability and quality of financial information, enabling investors and other market participants to make informed economic decisions.
- IFRS Standards strengthen accountability by reducing the information gap between the providers of capital and the people to whom they have entrusted their money. Our Standards provide information needed to hold management to account. As a source of globally comparable information, IFRS Standards are also of vital importance to regulators around the world.
- IFRS Standards contribute to economic efficiency by helping investors to identify opportunities and risks across the world, thus improving capital allocation. For businesses, the use of a single, trusted accounting language lowers the cost of capital and reduces international reporting costs.
IFRS Standards are currently required in over 125 jurisdictions and permitted in many more. Find out more about the use of IFRS Standards around the world here.
EFFAS is represented on the IFRS Advisory Council by Jesús López Zaballos, Chair of EFFAS, from 1 January 2024, for three years. Jesús has been on the EFFAS Board since 2008 and has chaired the federation since 2012. He has more than 40 years of experience in the Financial and Capital Markets areas.