The IASC Foundation, the parent body of the IASB, on July 1 formally changed its name to the IFRS Foundation. The name change is designed to reflect more clearly what the foundation does, namely the publication and promotion of International Financial Reporting Standards (IFRS).
The International Financial Reporting Interpretations Committee (IFRIC) and the Standards Advisory Council (SAC) have been renamed as the IFRS Interpretations Committee and the IFRS Advisory Council, respectively.
The IASB’s name will remain unchanged. The IASB’s new website will be www.ifrs.org.
More from the JofA: