What organization issues International Financial Reporting Standards?

The International Accounting Standards Board (IASB) issues International Financial Reporting Standards.

The IASB is an independent standard-setting board within the IFRS Foundation. It develops and publishes IFRS Accounting Standards through a formal process that includes research, public consultation, discussion, and consideration of stakeholder feedback. The standards are intended to improve consistency and comparability in general-purpose financial reporting across countries.

The board was established in 2001, replacing the International Accounting Standards Committee. Its standards include newer IFRS Standards as well as International Accounting Standards inherited from the earlier system. The IFRS Interpretations Committee supports consistent application, but it is not the body that replaces the IASB as the principal issuer.

The AICPA and FASB are associated primarily with U.S. accounting guidance, while the SEC is a U.S. government regulator. The IFRS Foundation’s trustees oversee governance and appoint IASB members, but the IASB is the standard-setting body that issues IFRS Accounting Standards.