IFRS Advisory Council
The IFRS Advisory Council provides strategic advice to the IFRS Foundation Trustees and the standard-setting boards. Its broad stakeholder membership helps bring user, preparer and other perspectives into decisions about priorities and direction. It is part of the Foundation’s advisory structure, separate from the bodies that issue accounting standards or develop interpretations.
Worked example
The Council can advise on strategic priorities and stakeholder concerns while the IASB follows its own due process to develop an accounting standard.
Common mistake
Do not confuse the Advisory Council with the IASB, which issues IFRS Accounting Standards, or the Interpretations Committee, which addresses application questions.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | FA | Direct | September 2026–June 2027 |
| ACCA | K1 | Direct | July 2027–August 2028 |
| CIMA | BA3 | Direct | Official assessment-window verification pending |
| FIA | FFA | Direct | September 2026–June 2027 |