International Accounting & Auditing Standards
International accounting and auditing standards are not binding in individual countries unless those countries' standards-setting bodies choose to make them so. However, the International Accounting Standards Board and International Federation of Accountants work with the standards-setting bodies of many nations, including the U.S., in order to promote the convergence of accounting and auditing standards worldwide. More than 90 countries now require the financial statements of publicly traded companies to be prepared in accordance with the IASB's International Financial Reporting Standards ("IFRSs") (seeIFRSuse in various countries).
I. International Accounting Standards Board ("IASB")
The IASB issues accounting standards in the form of pronouncements called International Financial Reporting Standards ("IFRSs") and Interpretations, both of which are available in the annual print publicationInternational Financial Reporting Standards(2003 - ). Each annual volume contains the standards in effect as of January 1 of the year of issue.
The IFRS Foundation alsoprovidesregistered users with free access to the PDF and html files of the current year's consolidated IFRS Standards (Part A of the Issued Standards book), the official pronouncements in English as issued by the International Accounting Standards Board. Free access is also available to the latest translations of Standards, excluding the accompanying documents (illustrative examples, implementation guidance andbases for conclusions).
- IFRS Accounting Standards Navigator(searchable)
- IFRS Accounting Standards(browsable)
- IFRIC Interpretations(browsable)
II. International Accounting Standards Committee ("IASC", Defunct)
The IASC was the predecessor to the IASB. It issued pronouncements called International Accounting Standards, which are available in the print publicationInternational Accounting Standards (coverage: annual volumes from 1991-2002 contain the standards in effect as of January 1 of the year of issue).
III. International Federation of Accountants ("IFAC")
The IFAC issues auditing standards in the form of pronouncements called International Standards on Auditing. These standards are available in the annual publicationHandbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, which is available for download from the IAASB website.
