Terms of use for financial reporting standards and other materials which contain copyright material of the IFRS Foundation issued by the FRC

Published: 25 September 2023

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  1. The IFRS Foundation and the Financial Reporting Council grant users of the Financial Reporting Standards (Users) the permission to reproduce the Financial Reporting Standards for:

    1.1 the User’s Professional Use, or
    1.2 private study and education
  2. Professional Use means use of the Financial Reporting Standards in the User’s professional capacity in connection with the business of providing accounting services for the purpose of application of the Financial Reporting Standards for preparation of financial statements and/or financial statement analysis to the User’s clients or to the business in which the User is engaged as an accountant.
  3. For the avoidance of doubt, the abovementioned usage does not include any kind of activities that make (commercial) use of the Financial Reporting Standards other than direct or indirect application of the Financial Reporting Standards, such as but not limited to commercial seminars, conferences, commercial training or similar events.
  4. For any application that falls outside Professional Use, Users shall be obliged to contact the Financial Reporting Council and the IFRS Foundation for a separate individual licence under terms and conditions to be mutually agreed.
  5. Except as otherwise expressly permitted in this notice, Users shall not, without prior written permission of the Financial Reporting Council and the Foundation, have the right to license, sublicense, transmit, transfer, sell, rent, or otherwise distribute any portion of the Financial Reporting Standards to third parties in any form or by any means, whether electronic, mechanical or otherwise either currently known or yet to be invented.
  6. Users are not permitted to modify or make alterations, additions or amendments to or create any derivative works from the Financial Reporting Standards, save as otherwise expressly permitted in this notice.
  7. For further details about licensing the IFRS Foundation’s intellectual property please contact [email protected].

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