This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IFRS Foundation publishes results of a reputation research study

  • IFRS - IASB Image

Jul 31, 2017

On July 31, 2017, the IFRS Foundation has published a report with findings of a reputation research study conducted between February and May 2017. The objective of the study was to learn about (1) the perceived performance of the Foundation as regards reputation attributes such as transparency and independence, (2) perceptions of engagement and consultation, and (3) whether it is felt that the Foundation meets its public interest mission and delivers on its objectives.

The study builds on close to 130 interviews of which over 100 were conducted with external parties (accountants/auditors, preparers, users, standard-setters, regulators as well as members of the different IFRS Foundation advisory groups).

Overall, the IFRS Foundation is rated highly for its transparency and independence. Its consultations are perceived as professional, open, and effective with good quality documentation. The vast majority of respondents also agree that the Foundation meets its public interest mission and the Foundation’s not-for-profit, privately organised status is not seen to have a detrimental effect on the public interest mission.

However, several weaknesses were also identified by the study. The main one is the perception that the Foundation is not timely and does not respond quickly enough to a changing world. Especially long development and consultation phases are seen as a weakness, which are attributed to a lack of proper balance right between quantity of due process and speed and to a tendency to be too technical or conceptual. Respondents would also like to see more opportunities to engage outside the consultation process through informal dialogue, training, and events. Stakeholders also feel that both smaller companies and developing markets are at risk of being sidelined, and call for greater consideration of difficulties they may experience implementing standards.

The report offers six recommendations for the Foundation: continue the good work; improve outreach and consult more widely; develop events, training and education; improve timeliness; respond to the need for simple, practical, and workable standards; and harness advocates to act as ambassadors

The full report and a corresponding press release are available on the IASB website.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.