Universitatea „Vasile Alecsandri” Bacău

Specializare: Contabilitate şi Informatică de Gestiune

Grupa: 632

THE IFRS FOUNDATION AND THE IASB

-FUNDAȚIA STANDARDELOR INTERNAȚIONALE DE
RAPORTARE FINANCIARĂ (IFRS FOUNDATION) ȘI
Student: Croitoru Larisa
CONSILIUL PENTRU STANDARDE INTERNAȚIONALE DE
CONTABILITATE (IASB)-

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 Cuprins

1.Fundația IFRS..................................................................3
2.Obiectivele principale ale IFRS.......................................3
3.Structura Fundației IFRS.................................................3
4.Standardizare....................................................................5
4.1 IASB.........................................................................5
4.2 Comitetul pentru Interpretare...................................6
5.Sprijinirea obiectivelor IFRS...........................................6
6.Bibliografie......................................................................8
7.Anexe...............................................................................9

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 1. Fundația IFRS
Fundația IFRS este o organizație non-profit, independentă din sectorul privat care activează în
interesul public. Aceasta este entitatea juridică sub care acționează IASB și este condusă de către
un consiliu format din 22 de administratori.
Standardele Internaționale de Raportare Financiară (IFRS) sunt standarde bazate pe principii,
interpretări și context, adoptate de către Consiliul pentru Standarde Internaționale de
Contabilitate (IASB).
Multe dintre standardele componente ale IFRS-urilor sunt cunoscute sub denumirea mai veche:
Standarde Internaționale de Contabilitate (IAS-standarde emise între anii 1973-2001 de către
Consiliul Director al Comitetului pentru Standarde Internaționale de Contabilitate –IASC-).
Trecerea de la denumirea fundației IASC la IFRS a fost aprobată în Ianuarie 2010.

2. Obiectivele principale ale Fundației IFRS sunt:

Să elaboreze un singur set de înaltă calitate, inteligibil, executabil și acceptat la nivelul
global al Standardelor Internaționale de Raportare Financiară(IFRS-uri) prin
intermediul oragnului său de stabilire a standardelor(IASB).
Aceste standarde trebuie să solicite informații de înaltă calitate, transparente și comparabile în
situațiile financiare și alte situații de raportare financiară pentru a fi utilr investitorilor, altor
participanți străini de pe piețele de capital și altor utilizatori a informațiilor financiare pentru a
lua decizii economice.

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 Să promoveze utilizarea și aplicarea riguroasă a acestor standarde.

De a ține seama de nevoile de raportare financiară ale economiilor emergente și a

întreprinderilor mici și mijlocii.

De a aduce soluții de calitative cu privire la convergența standardelor de contabilitate

naționale și a IFRS-urilor.

Să promoveze și să faciliteze adoptarea Standardelor Internaționale de Raportare Financiară

(IFRS), fiind standardele și interpretările emise de IASB, prin convergența
Standardelor de contabilitate naționale și IFRS.
Conducerea și supravegherea activităților desfășurate de către Fundația IFRS și Corpul de
stabilire a standardelor revine administratorilor săi, care sunt, de asemenea, responsabili pentru
garantarea independenței IASB-ului și asigurarea finanțării organizației

3. Structura Fundației IFRS:

Consiliul de Monitorizare a autorităților publice pe piața de capital

Numește, supraveghează comunică

Administratorii Fundației IFRS

(Guvernare)

Numește Supraveghează, revizuiește eficacitatea, numește și finanțează informează

Informează

Consiliul consultativ Standardizare

a IFRS-ului
Consiliul pentru Standarde Internaționale de Contabilitate (IASB)
IFRS-uri/ IFRS pentru IMM-uri

Oferă consultanță strategică

Comitetul pentru Interpretări a IFRS-ului (IFRIC)
Grupul de interpretare a IMM-urilor

Operațiuni 4
Consiliul de Monitorizare a autorităților publice pe piața de capital:
Supraveghează administratorii fundației IFRS

Participă la procesul de numire a mandatarului

Aprobă întâlnirile administratorilor

Administratorii Fundației IFRS:

Supraveghează activitatea IASB-ului, stuctura și strategia

Are responsabilitatea de strângere de fonduri

Consiliul consultativ a IFRS-ului:

Sfătuiește/recomandă/informează IASB și Fundația IFRS

4.Standardizare
4.1 Consiliul pentru Standarde Internaționale de Contabilitate (IASB)
IASB este organismul independent de stabilire a stabilire a standardelor Fundației IFRS, cu
finanțare privată având sediul în Londra, Anglia. Acest organism este organizat în subordinea
unei fundații independente numită Fundația IFRS.

A fost înființată la 1 Aprilie 2001 ca succesor a Comitetului pentru Standarde Internaționale de

Contabilitate (IASC).

Membrii Consiliului pentru Standarde Internaționale de Contabilitate sunt în număr de 15,

fiecare având drept de vot și sunt selectați ca un grup de experți cu diferite calificări în
standardizare, pregătirea și utilizarea conturilor și muncă academică.Aceștia sunt responsabili
pentru elaborarea și publicarea IFRS-urilor, inclusiv IFRS-urile pentru IMM-uri, pentru
aprobarea Interpretărilor IFRS-urilor așa cum fost dezvoltate de către Comitetul de Interpretări
IFR(numit IFRIC) și pentru promovarea utilizării și aplicării acestor standarde.

Pentru publicarea Standardelor, a proiectelor de expunere sau a Interpretărilor nu este necesar un

vot unanim ci este necesară aprobarea de către 9 membrii din cei 15.

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În îndeplinirea atribuțiilor sale de stabilire a standardelor, IASB urmează un proces detaliat,
deschis și transparent. Consiliul se întrunește lunar(cu excepția lunii august) pentru aproximativ
o săptămână, iar aceste ședințe sunt deschise publicului și sunt transmise online.

4.2 Comitetul pentru Interpretarea IFRS-urilor

Comitetul pentru Interpretarea IFRS-urilor (denumit anterior IFRIC) este organismul
interpretativ a IASB-ului.

Aceste este format din 14 membrii cu drept de vot pe o perioadă de trei ani, numiți de către
Administratori și sunt selectați din diferite țări și profesionoși contabili. Comitetul pentru
Interpretare este prezidat de către un președinte fără drept de vot.

Obligația acestui comitet este de a analiza în timp util probeleme de contabilitate vaste, apărute
în contextul actual de IFRS-uri și de a oferi îndrumări în legătură cu aceste probleme.

Întâlnirile Comitetului pentru Interpretare sunt deschise publicului și sunt transmise online. În
dezvoltarea interpretărilor, comitetul lucrează îndeaproape cu comisiile naționale similare și
urmează un proces transparent, profund și deschis. Pentru aprobarea conceptului sau a
interpretării finale a standardelor este necesar acordul a 10 mebmrii din cei 14.

Responsabilități:
Să interpreteze aplicarea Standardelor Internaționale de Raportare Financiară(IFRS) și să
furnizeze în timp util orientări cu privire la aspectele de raportare financiară care nu sunt
abordate în IFRS-uri sau IAS-uri, în contextul cadrului IASB și își asumă alte sarcini la
cererea Consiliului de Administrație.

Publicarea conceptului de Interpretare pentru comentarii publice și ia în considerare

comentariile făcute într-un termen rezonabil înainte de a finaliza o Interpretare.

Raportează Consiliului de Administrație și obține aprobarea pentru Interpretările finale.

5. Sprijinirea obiectivelor Fundației IFRS

Toate celelalte activități întreprinse de către Fundația IFRS în sprijinul îndeplinirii obiectivelor
organizației sunt gestionate de către personalul fundației IFRS.

Aceste activități includ:

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Crearea unei taxonomii XBRL pentru IFRS-uri și IFRS pentru IMM-uri pentru a facilita
utilizarea electronică, schimbul și comparabilitatea datelor financiare întocmite în conformitate
cu IFRS. Acest lucru de face de către echipa de IFRS XBRL.

Realizarea de materiale de înaltă calitate, inteligibile și actuale, inclusiv materiale de instruire

gratuite pentru IFRS pentru IMM-uri, organizarea de conferințe și ateliere de lucru cu privire la
IFRS.

Protecția brandului IFRS și sprijinirea de convergență la nivel mondial prin abordarea

problemelor de traducere și drepturilor de autor și care contribuie la finanțarea organizației prin
furnizarea de servicii de publicare. Aceste activități sunt grupate sub managementul de conținut.

Operațiuni, inclusiv managementul de zi cu zi și de sprijin pentru organizație. De asemenea, sunt

incluse legături de comunicații, îmbunătățirea și extinderea relațiilor externe, și promovarea unei
mai bune înțelegeri a activității organizației.

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 Bibliografie

1. http://www.ifrs.org/the+organisation/iascf+and+iasb.htm
2. http://www.ifrs.org/The+organisation/How+we+are+structured.htm
3. http://en.wikipedia.org/wiki/Ifrs#Structure_of_IFRS
4. http://en.wikipedia.org/wiki/International_Accounting_Standards_Board#Fo
undation_of_the_IASB
5. http://www.iasplus.com/restruct/iascf.htm
6. http://www.iasplus.com/restruct/restruct.htm#new

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 Anexe

1. http://www.ifrs.org/the+organisation/iascf+and+iasb.htm

About the IFRS Foundation and the IASB

The IFRS Foundation is an independent, not-for-profit private sector organisation working in the public interest. Its
principal objectives are:

 to develop a single set of high quality, understandable, enforceable and globally accepted international
financial reporting standards (IFRSs) through its standard-setting body, the IASB;
 to promote the use and rigorous application of those standards;
 to take account of the financial reporting needs of emerging economies and small and medium-sized
entities (SMEs); and
 to bring about convergence of national accounting standards and IFRSs to high quality solutions.

The governance and oversight of the activities undertaken by the IFRS Foundation and its standard-setting body rests with
its Trustees, who are also responsible for safeguarding the independence of the IASB and ensuring the financing of the
organisation. The Trustees are publicly accountable to a Monitoring Board of public authorities.
Standard-setting
The IASB (International Accounting Standards Board)
The IASB is the independent standard-setting body of the IFRS Foundation. Its members (currently 15 full-time members)
are responsible for the development and publication of IFRSs, including the IFRS for SMEs and for approving
Interpretations of IFRSs as developed by the IFRS Interpretations Committee (formerly called the IFRIC). All meetings of
the IASB are held in public and webcast. In fulfilling its standard-setting duties the IASB follows a thorough, open and
transparent due process of which the publication of consultative documents, such as discussion papers and exposure drafts,
for public comment is an important component. The IASB engages closely with stakeholders around the world, including
investors, analysts, regulators, business leaders, accounting standard-setters and the accountancy profession.
The IFRS Interpretations Committee
The IFRS Interpretations Committee (formerly called the IFRIC) is the interpretative body of the IASB. The Interpretations
Committee comprises 14 voting members appointed by the Trustees and drawn from a variety of countries and professional
backgrounds. The mandate of the Interpretations Committee is to review on a timely basis widespread accounting issues
that have arisen within the context of current IFRSs and to provide authoritative guidance (IFRICs) on those issues.
Interpretation Committee meetings are open to the public and webcast. In developing interpretations, the Interpretations
Committee works closely with similar national committees and follows a transparent, thorough and open due process.
Supporting the objectives of the IFRS Foundation
All other activities undertaken by the IFRS Foundation in support of the objectives of the organisation are managed
by the IFRS Foundation’s staff.
Those activities include:

 the creation of an XBRL taxonomy for IFRSs and the IFRS for SMEs to facilitate the electronic use, exchange
and comparability of financial data prepared in accordance with IFRSs. This is done by the IFRS XBRL team.
 the production of high quality, understandable and up to date material including freely downloadable training
material for the IFRS for SMEs, and the organisation of conferences and workshops about IFRSs. These
activities are grouped within the IFRS Foundation Education Initiative.
 the protection of the IFRS brand and the support of global convergence through addressing translation and
copyright issues and contributing to the financing of the organisation through the provision of publication services.
These activities are grouped under Content Management.

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 operations, including the day-to-day management of and support for the organisation. Also included are
communications, improving and expanding external relationships, and promoting a better understanding of the work
of the organisation.

2. http://www.ifrs.org/The+organisation/How+we+are+structured.htm
How we are structured
See the chart below for more information about the organisation and how it is structured:

3. http://en.wikipedia.org/wiki/Ifrs#Structure_of_IFRS

Structure of IFRS
IFRS are considered a "principles based" set of standards in that they establish broad rules as
well as dictating specific treatments.

International Financial Reporting Standards comprise:

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  International Financial Reporting Standards (IFRS)—standards issued after 2001
 International Accounting Standards (IAS)—standards issued before 2001
 Interpretations originated from the International Financial Reporting Interpretations
Committee (IFRIC)—issued after 2001
 Standing Interpretations Committee (SIC)—issued before 2001
 Framework for the Preparation and Presentation of Financial Statements (1989)

IAS 8 Par. 11

"In making the judgement described in paragraph 10, management shall refer to, and consider
the applicability of, the following sources in descending order:

(a) the requirements and guidance in Standards and Interpretations dealing with similar and
related issues; and

(b) the definitions, recognition criteria and measurement concepts for assets, liabilities, income
and expenses in the Framework."

4. http://en.wikipedia.org/wiki/International_Accounting_Standards_Board#Fo
undation_of_the_IASB

International Accounting Standards Board

From Wikipedia, the free encyclopedia

Jump to: navigation, search

The International Accounting Standards Board (IASB) is an independent, privately-funded

accounting standard-setter based in London, England.

The IASB was founded on April 1, 2001 as the successor to the International Accounting
Standards Committee (IASC). It is responsible for developing International Financial Reporting
Standards (the new name for International Accounting Standards issued after 2001), and
promoting the use and application of these standards.

Foundation of the IASB

On January 25, 2001, the International Accounting Standards Foundation (IASF) was
incorporated as a tax-exempt organization in the US state of Delaware.[1] On February 6, 2001,
the International Financial Reporting Standards Foundation was also incorporated as a tax-
exempt organization in Delaware.[2] The IFRS Foundation is the parent entity of the International
Accounting Standards Board (IASB), an independent accounting standard-setter based in
London, England.[3]

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On 1 March 2001, the IASB assumed accounting standard-setting responsibilities from its
predecessor body, the International Accounting Standards Committee (IASC). This was the
culmination of a restructuring based on the recommendations of the report Recommendations on
Shaping IASC for the Future.

The IASB structure has the following main features: the IFRS Foundation is an independent
organization having two main bodies, the Trustees and the IASB, as well as a IFRS Advisory
Council and the IFRS Interpretations Committee (formerly the IFRIC). The IASC Foundation
Trustees appoint the IASB members, exercise oversight and raise the funds needed, but the IASB
has responsibility for setting International Financial Reporting Standards (international
accounting standards).

IASB Members
The IASB has 16 Board members, each with one vote. They are selected as a group of experts
with a mix of experience of standard-setting, preparing and using accounts, and academic work.
[4]
At their January 2009 meeting the Trustees of the Foundation concluded the first part of the
second Constitution Review, announcing the creation of a Monitoring Board and the expansion
of the IASB to 16 members and giving more consideration to the geographical composition of
the IASB.

The IFRS Interpretations OF Committee has 14 members. Its brief is to provide timely guidance
on issues that arise in practice.[5]

A unanimous vote is not necessary in order for the publication of a Standard, exposure draft, or
final "IFRIC" Interpretation. The Board's 2008 Due Process manual stated that approval by nine
of the members is required.[6]

5. http://www.iasplus.com/restruct/iascf.htm
The IFRS Foundation is the legal entity under which the IASB operates. The Foundation is governed by a
board of 22 trustees.

IFRS Foundation is the new name, approved in January 2010, of the IASC Foundation. The
name change formally took effect on 1 July 2010. From that date, the Foundation's website
(including IASB materials) also changed to www.ifrs.org and email addresses changed to end in
'@ifrs.org'.

Objectives of the Foundation

The objectives of the IFRS Foundation are:

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 1. to develop, in the public interest, a single set of high quality, understandable, enforceable and
globally accepted financial reporting standards based upon clearly articulated principles. These
standards should require high quality, transparent and comparable information in financial
statements and other financial reporting to help investors, other participants in the world;s
capital markets and other users of financial information make economic decisions.
2. to promote the use and rigorous application of those standards.
3. in fulfilling the objectives associated with (a) and (b), to take account of, as appropriate, the
needs of a range of sizes and types of entities in diverse economic settings.
4. to promote and facilitate adoption of International Financial Reporting Standards (IFRSs), being
the standards and interpretations issued by the IASB, through the convergence of national
accounting standards and IFRSs.

Responsibilities of the Trustees

The Trustees of the IFRS Foundation have responsibility to:

1. assume responsibility for establishing and maintaining appropriate financing arrangements;

2. establish or amend operating procedures for the Trustees;
3. determine the legal entity under which the IFRS Foundation shall operate, provided always that
such legal entity shall be a foundation or other body corporate conferring limited liability on its
members and that the legal documents establishing such legal entity shall incorporate
provisions to achieve the same requirements as the provisions contained in this Constitution;
4. review in due course the location of the IFRS Foundation, both as regards its legal base and its
operating location;
5. investigate the possibility of seeking charitable or similar status for the IFRS Foundation in those
countries where such status would assist fundraising;
6. open their meetings to the public but may, at their discretion, hold certain discussions (normally
only about selection, appointment and other personnel issues, and funding) in private; and
7. publish an annual report on the IFRS Foundations activities, including audited financial
statements and priorities for the coming year.

The Trustees also have responsibility to:

1. appoint the members of the IASB and establish their contracts of service and performance
criteria;
2. appoint the members of the IFRS Interpretations Committee (the Interpretations Committee)
and the IFRS Advisory Council (the Advisory Council);
3. review annually the strategy of the IFRS Foundation and the IASB and its effectiveness, including
consideration, but not determination, of the IASBs agenda;
4. approve annually the budget of the IFRS Foundation and determine the basis for funding;
5. review broad strategic issues affecting financial reporting standards, promote the IFRS
Foundation and its work and promote the objective of rigorous application of IFRSs, provided
that the Trustees shall be excluded from involvement in technical matters relating to financial
reporting standards;
6. establish and amend operating procedures, consultative arrangements and due process for the
IASB, the Interpretations Committee and the Advisory Council;

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7. review compliance with the operating procedures, consultative arrangements and due process
as described in (f);
8. approve amendments to this Constitution after following a due process, including consultation
with the Advisory Council and publication of an exposure draft for public comment and subject
to the voting requirements given in section 14;
9. exercise all powers of the IFRS Foundation except for those expressly reserved to the IASB, the
Interpretations Committee and the Advisory Council; and
10. foster and review the development of educational programmes and materials that are
consistent with the IFRS Foundations objectives.

6. http://www.iasplus.com/restruct/restruct.htm#new

The New Structure: Background and Chronology

After nearly 25 years of achievement, IASC concluded in 1997 that to continue

to perform its role effectively, it must find a way to bring about convergence
between national accounting standards and practices and high-quality global
accounting standards. To do that, IASC saw a need to change its structure. In
late 1997 IASC formed a Strategy Working Party to re-examine its structure
and strategy. (Jacques Manardo, Deloitte Touche Tohmatsu Global Managing
Partner-Strategic Clients, was a member of that group.)

The Strategy Working Party published its Report, in the form of a

Discussion Paper, in December 1998. After soliciting comments, the
Working Party published its Final Recommendations in November 1999.

The IASC Board approved the proposals unanimously in December

1999, and the IASC member bodies did the same in May 2000. A new
IASB Constitution took effect 1 July 2000. The standards-setting body
was renamed the International Accounting Standards Board (IASB). It
would operate under a new International Accounting Standards
Committee Foundation (IASCF).

On 1 April 2001, the new IASB took over from the IASC the
responsibility for setting International Accounting Standards.

Overview of the Restructured IASB

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 The IASB is organised under an independent Foundation
named the IFRS Foundation. That Foundation is a not-for-
profit corporation created under the laws of the State of
Delaware, United States of America, on 8 March 2001.
Components of the new structure:

 International Accounting Standards Board (IASB)

– has sole responsibility for establishing
International Financial Reporting Standards
(IFRSs).
 IFRS Foundation – oversees the work of the IASB,
the structure, and strategy, and has fundraising
responsibility. [Until 31 March 2010 was named
International Accounting Standards Committee
Foundation, or IASCF.]
 Monitoring Board – oversees the IFRS Foundation
Trustees, participates in the Trustee nomination
process, and approves appointments to the
Trustees.
 IFRS Interpretations Committee – develops
interpretations for approval by the IASB. [Until 31
March 2010 was named International Financial
Reporting Interpretations Committee.]
 IFRS Advisory Council – advises the IASB and the
IASCF. [Until 31 March 2010 was named
Standards Advisory Council.]
 Working Groups – expert task forces for
individual agenda projects.

Responsibilities of the Trustees.

Under the IFRS Foundation Constitution, the Trustees of the IFRS Foundation have
responsibility to:

 establish and maintain appropriate financing arrangements

 establish or amend operating procedures for the Trustees
 determine the legal entity under which the IFRS Foundation shall operate, provided
always that such legal entity shall be a Foundation or other body corporate conferring
limited liability on its members and that the legal documents establishing such legal

15
 entity shall incorporate provisions to achieve the same requirements as the provisions
contained in this Constitution
 review in due course the location of the IASC Foundation, both as regards its legal base
and its operating location
 investigate the possibility of seeking charitable or similar status for the IFRS Foundation
in those countries where such status would assist fundraising
 open their meetings to the public but may, at their discretion, hold certain discussions
(normally only about selection, appointment and other personnel issues, and funding) in
private; and
 publish an annual report on the IFRS Foundation's activities, including audited financial
statements and priorities for the coming year

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