Understanding Accounting
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IFRS Foundation: who we are

The IFRS Foundation's account of its 2001 creation and the IASB's role in developing IFRS Accounting Standards.

Authority and currency

About this authority

Publisher
IFRS Foundation
Standing
Primary authority
Version
Current web page
Relevant parts
IFRS Accounting; creation in 2001; IASB
Currency
current · checked Aug 7, 2026

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The Foundation identifies 2001 as its creation year and the IASB as the body developing IFRS Accounting Standards. The course separates that global standard-setting role from legal adoption: an IASB publication does not by itself determine which entities in every jurisdiction must apply it.