International Financial Reporting Standards

TOPICS / ACCOUNTING & REPORTING

December 1, 2025

IFRS 18: A fundamental redesign of financial statement presentation

The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are run.

May 9, 2025

Are you aware of this May 30, 2025, filing deadline?

If you have a client that owns at least 10% of a foreign enterprise, they must file forms for the BE-10 survey.

February 23, 2023

First global sustainability standards approach the finish line

The International Sustainability Standards Board announces that IFRS S1 and IFRS S2 will be released in June and effective for some companies in 2024.

November 22, 2022

New year, new challenges: Preparing for sustainability disclosures

Those on the front line of the sustainability reporting landscape share what’s to come in 2023 and what accounting professionals need to know to prepare.

March 23, 2022

Proposal would supersede auditing standard for group audits

The AICPA Auditing Standards Board is seeking comments on a proposed Statement on Auditing Standards that seeks to strengthen the auditor’s approach to planning and performing group audits and to improve the quality of such audits.

September 11, 2020

Consistency sought in sustainability, corporate reporting through global effort

IFAC called for the creation of a new sustainability accounting standards board, and five global organizations committed to working together toward unified corporate reporting.

November 7, 2019

IFAC seeks consistency, accountants’ engagement in corporate reporting

The wide variety of frameworks and standards initiatives prevents consistency in corporate reporting, according to the International Federation of Accountants.

January 1, 2019

IASB clarifies definition of ‘material’

The objective is to make it easier for companies to make judgments.

October 31, 2018

IASB clarifies definition of ‘material’

The IASB revised its definition of “material” in an effort to make it easier for companies to decide which information is important enough to include in their financial statements.

June 28, 2018

IASB seeks clarity between liabilities and equity

The proposal attempts to reduce diversity in practice on the accounting for complex instruments that have features of debt and equity.

June 1, 2018

New IFRS conceptual framework revises foundational reporting concepts

Information about performance and position is prioritized.

March 29, 2018

New IFRS conceptual framework revises foundational reporting concepts

A new conceptual framework for IFRS includes revisions to concepts for reporting assets, liabilities, income, and expenses.

September 12, 2017

IASB proposes changes around accounting policies and estimates

An IASB exposure draft seeks to clarify the distinction between accounting estimates and accounting policies.

August 1, 2017

IASB addresses uncertainty in accounting for income taxes

IFRIC 23 adds to the requirements of IAS 12.

July 1, 2017

Assessing the global state of the profession

As president of the International Federation of Accountants, Olivia Kirtley, CPA, CGMA, learned about issues accountants face around the world.

July 1, 2017

New IASB standard aims for consistent reporting for insurers

IFRS 17 creates a single approach for insurance contracts accounting.

June 7, 2017

IASB interpretation addresses uncertainty in accounting for income taxes

A new interpretation issued by the IASB specifies requirements for how organizations should reflect uncertainty in their accounting for income taxes.

May 18, 2017

New IASB standard aims for consistent accounting for insurers

A new standard issued by the IASB aims to provide transparent reporting about insurers’ financial position and risk.

March 1, 2017

IASB proposes amendments to 3 standards

The changes are part of an annual improvement process.

January 12, 2017

IASB proposes amendments to 3 IFRS standards

The IASB issued clarifications to standards related to income taxes, borrowing costs and investments in associates and joint ventures.

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Handling increased enforcement of unclaimed property notices

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