Standards. International Accounting Standards (IASs) were issued by the IASC fro m 1973 to 2000.

The IASB replaced the IASC in 2001. Since then, the IASB has ame nded some IASs and has proposed to amend others, has replaced some IASs with new International Financial Reporting Standards (IFRSs), and has adopted or propose d certain new IFRSs on topics for which there was no previous IAS. Through commi ttees, both the IASC and the IASB also have issued Interpretations of Standards. Compliance with Standards. Financial statements may not be described as complyin g with IFRSs unless they comply with all of the requirements of each applicable standard and each applicable interpretation. Summaries of Standards. Click on an IAS or IFRS number below to go to an unoffic ial summary of the standard. Please remember that the summaries of IASs and IFRS s only cover highlights and are not a substitute for reading the entire standard . They should not be relied on for preparing financial statements. The summaries reflect the latest revisions to the standard (including some revisions whose ad option is permitted but not yet required) unless otherwise stated. IASB Framework. While not a standard, the IASB Framework for the Preparation and Presentation of Financial Statements serves as a guide to resolving accounting issues that are not addressed directly in a standard. Moreover, in the absence o f a standard or an interpretation that specifically applies to a transaction, IA S 8 requires that an entity must use its judgement in developing and applying an accounting policy that results in information that is relevant and reliable. In making that judgement, IAS 8.11 requires management to consider the definitions , recognition criteria and measurement concepts for assets, liabilities, income, and expenses in the Framework. The IASB adopted the Framework in April 2001. It had originally been adopted by the IASC in 1989. Currently, the IASB is working on a Project to Revise the Framework. Preface to IFRSs. Sets out IASB's objectives, the scope of IFRSs, due process, a nd policies on effective dates, format, and language for IFRSs. Effective Dates. Click here for a Table of Effective Dates of Recent Standards. How to Obtain. The IASB publishes: individual copies of its standards, an annual "Bound Volume" of all existing standards and interpretations, electronic IFRSs (eIFRS), and a CD ROM with standards and Interpretations. Publications and subscriptions may be ordered on IASB's website www.ifrs.org. In April 2009, the IASB began making available on its website, without charge, a ccess to the versions of IFRSs (including interpretations) published in the most recent bound volume of IFRSs and the application guidance that is an integral p art of those standards. Free registration is required. The illustrative examples , implementation guidance, and bases for conclusions that accompany, but are not part of, the standards are available only to subscribers. The free standards ar e available in English and several other languages. Each standard is a separate PDF file. You can access the standards on the IASB's Website: Here for the English version; and Here for the Translations. When IASB standards are endorsed by the European Commission for use in the Europ ean Union, they (minus the non-mandatory guidance and bases for conclusions) are published in the Official Journal of the European Union in all of the EU langua ges. They Can Be Accessed Here. Exposure drafts of proposed new or revised IFRSs may be downloaded from the IASB 's website without charge during the comment period. The term 'IFRSs'. The term International Financial Reporting Standards (IFRSs) h

as both a narrow and a broad meaning. Narrowly, IFRSs refers to the new numbered series of pronouncements that the IASB is issuing, as distinct from the Interna tional Accounting Standards (IASs) series issued by its predecessor. More broadl y, IFRSs refers to the entire body of IASB pronouncements, including standards a nd interpretations approved by the IASB and IASs and SIC interpretations approve d by the predecessor International Accounting Standards Committee. [On this webs ite, consistent with IASB policy, we abbreviate International Financial Reportin g Standards (plural) as IFRSs and International Accounting Standards (plural) as IASs.] Interpretations. Click here for information about the Information about Interpre tations of IASB Standards. Technical Corrections. Click here for information about the IASB's Approach to M aking Minor Technical Corrections to Its Standards.