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.
- 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 in the IFRS Advisory Council by Javier de Frutos, Chairman of the EFFAS Commission on Financial Reporting. Javier has an extensive experience in global financial markets. He has worked for more than twenty years in investment banking for BBVA and participated in large private initial public offerings (IPO) and corporate transactions and he is working currently as a senior investment fund manager at Sailbridge Capital.