Overview of the structure of the IFRS Foundation and IASB
The International Accounting Standards Board (IASB) is organised under an independent foundation named the IFRS Foundation. The Foundation is a not-for-profit corporation which was created under the laws of the State of Delaware, United States of America, on 8 March 2001.
The components of the overall structure of the IFRS Foundation are set out below. The obligations and high-level operating procedures for most components are established under the IFRS Foundation Constitution.
|IFRS Foundation||Oversees the work of the IASB, the structure, and strategy, and has fund raising responsibility.||8 March 2001|
|Due Process Oversight Committee (DPOC)||Trustee committee responsible for the Trustee's oversight function under the IFRS Foundation Constitution.||2006|
|Monitoring Board||Oversees the IFRS Foundation Trustees, participates in the Trustee nomination process, and approves appointments to the Trustees.||1 February 2009|
|International Accounting Standards Board (IASB)||Sole responsibility for establishing International Financial Reporting Standards (IFRSs).||1 April 2001 (1)|
|IFRS Interpretations Committee (2)||Develops interpretations for approval by the IASB, and undertakes under tasks at the request of the IASB||1 April 2001 (2)|
|Working groups||Expert task forces for individual agenda projects||Formed as needed|
|Accounting Standards Advisory Forum (ASAF)||Advises on the technical standard-setting activities of the IASB||Announced 1 February 2013|
|IFRS Advisory Council (3)||Advises the IASB and the IFRS Foundation||25 June 2001|
|Specialised advisory groups||Capital Markets Advisory Committee (4)||2003|
|Effects Analyses Consultative Group||2012|
|Emerging Economies Group||26 July 2011|
|Financial Crisis Advisory Group (jointly with FASB)||30 December 2008|
|Global Preparers Forum|
|IFRS Taxonomy Consultative Group||29 April 2014|
|Joint Transition Resource Group for Revenue Recognition||June 2014|
|SME Implementation Group (SMEIG)||2010|
- The IASB replaced the IASC Board of the International Accounting Standards Committee (IASC) with effect from this date. The IASC was formed in 1973.
- Until 31 March 2010, the IFRS Interpretations Committee was named the International Financial Reporting Interpretations Committee (IFRIC). IFRIC replaced the Standards Interpretations Committee (SIC) of the IASC with effect from 1 April 2001. The SIC was part of the original IASC structure formed in 1973.
- Until 31 March 2010, the IFRS Advisory Council was named the Standards Advisory Council (SAC).
- Formerly the Analyst Representative Group (ARG).