The IASC Foundation, now known as the IFRS Foundation, was established to oversee and develop a globally accepted set of accounting standards known as International Financial Reporting Standards (IFRS).
The IFRS Advisory Council is a formal advisory body that provides strategic advice and counsel to the International Accounting Standards Board (IASB) and the Trustees of the IFRS Foundation on the development and implementation of International Financial Reporting Standards (IFRS).
The IFRS Foundation is a not-for-profit organization responsible for the development and oversight of the International Financial Reporting Standards (IFRS). These standards provide a common global language for financial reporting, ensuring transparency, accountability, and efficiency in financial markets worldwide.
The International Accounting Standards Committee (IASC) was an independent private-sector body that created and issued international accounting standards. Its purpose was to develop and promote international accounting standards through consensus-building. The IASC has since been replaced by the International Accounting Standards Board (IASB), under the International Financial Reporting Standards (IFRS) Foundation.
The International Accounting Standards Committee Foundation (IASCF) was an independent, private-sector organization responsible for developing a single set of high-quality, understandable, and enforceable international financial reporting standards through its standard-setting body, the International Accounting Standards Board (IASB).
The IFRS-AC is a council of diverse experts who advise the IASB on setting global accounting standards, ensuring these standards are relevant and practical for financial statement users and preparers.
The IFRS Foundation oversees the activities of the International Accounting Standards Board (IASB) and the International Financial Reporting Interpretations Committee, and aims to develop globally accepted financial reporting standards.
