IFRS Foundation
The IFRS Foundation is the organisation responsible for the institutional framework supporting international accounting and sustainability disclosure standards. Its Trustees oversee governance, due process and funding. The IASB develops IFRS Accounting Standards and the ISSB develops IFRS Sustainability Disclosure Standards. The Foundation itself is distinct from national regulators that decide how standards are adopted and enforced locally.
Worked example
An entity may apply IASB-issued IFRS Accounting Standards because its jurisdiction requires them; the jurisdiction’s regulator enforces its own reporting rules.
Common mistake
Do not describe the Foundation, the IASB, the ISSB and national enforcement authorities as one interchangeable standard-setting body.
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 |