IFRS Interpretations Committee — Accounting glossary

The IFRS Interpretations Committee works with the IASB to support consistent application of IFRS Accounting Standards. It considers application questions and may develop interpretations for the IASB to approve. Its work promotes consistency in applying existing requirements, helping users compare financial statements prepared by different entities.

Worked example

A question about applying an existing IFRS requirement may be considered by the committee.

Common mistake

Assuming the committee independently issues new accounting standards without IASB approval.

Where it appears in your exams

Qualification	Exam	Relationship	Period
ACCA	FA	Direct	September 2026–June 2027
ACCA	K1	Direct	July 2027–August 2028
FIA	FFA	Direct	September 2026–June 2027

Related terms

IFRS Accounting Standards
IFRS Foundation
International Accounting Standards Board (IASB)

Also called: IFRIC