Overview of the structure of the IFRS Foundation, IASB, and ISSB
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The International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) are 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.
| Group | Role | Formed |
|---|---|---|
Governance |
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| 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 |
Technical |
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| 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) |
| International Sustainability Standards Board (ISSB) | Sole responsibility for establishing IFRS Sustainability Disclosure Standards (IFRS SDSs) | 3 November 2021 |
| Working groups | Expert task forces for individual agenda projects | Formed as needed |
Advisory |
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| 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 | |
| Transition Resource Group for Impairment of Financial Instruments | August 2014 | |
| Transition Resource Group for IFRS 17 | September 2017 | |
- 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).
Structure diagram
