International accounting activities

1 minute read

The FRC monitor and influence the IASB by responding to relevant consultations, undertaking outreach with stakeholders and liaison with other national standard setters.

IFRS Influencing

The Accounting and Reporting Policy Team’s remit is to actively follow and comment on relevant work of the International Accounting Standards Board (IASB), particularly the IFRS for SMEs Accounting Standard. We respond to selected IASB consultations after undertaking appropriate engagement with constituents to obtain their views.

IFASS and Work with Other Bodies

The FRC works with other bodies where appropriate. These include IFASS (International Forum of Accounting Standard Setters, previously National Standard Setters (NSS)), which is an informal group of organisations that are committed to working, in the public interest, for the improvement of financial reporting.

The International Forum Accounting Standard Setters (IFASS) meets twice a year.