The International Financial Reporting Standards (IFRS) Foundation is an independent, not-for-profit organization established to develop high-quality, understandable, enforceable, and globally accepted standards for financial reporting. These standards, known as IFRS Standards, aim to bring transparency, accountability, and efficiency to financial markets worldwide, fostering trust and growth in the global economy.
Key aspects of the IFRS Foundation include:
Through its work, the IFRS Foundation plays a pivotal role in harmonizing financial reporting standards, thereby facilitating cross-border investments and economic integration.
Source(s):
You Might Also Be Interested In: