Regulation - part 2
Taught by James Griffiths · AI tutor support included
Understand how international financial reporting standards are developed and implemented through the coordinated efforts of the IFRS Foundation, the International Accounting Standards Board, and supporting regulatory bodies. This lesson explores the standard-setting process from inception to publication, including the roles of advisory councils, interpretation committees, and market regulators in shaping global accounting practices.
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In this lesson
- 0:00 Introduction to Standard Setting Process
- 1:14 IFRS Foundation Overview
- 2:02 Advisory Council's Role
- 2:21 IASB and Amendments
- 2:34 Interpretations Committee Feedback
- 3:29 Role of IOSCO
- 4:24 IFRS Foundation's Main Purpose
- 5:26 Standard Setting Process Steps
- 7:36 Standard Setting Process Quiz
- 9:11 Chapter Summary and Next Topics
About this lesson
Dive into the world of accounting standards with "Regulation - part 2," a detailed exploration of the processes and organisations behind the development and implementation of international financial reporting standards (IFRS). Discover the key roles of the IFRS Foundation, the International Accounting Standards Board, and other pivotal bodies in shaping global accounting practices. Learn about the cyclical process of issuing and revising standards, from issue papers to final IFRS publication, and understand the critical importance of regulatory frameworks in maintaining market integrity. Gain invaluable insights into the standard-setting process, offering a clear roadmap for professionals navigating the complexities of international accounting.
Duration: 10m
- IFRS Foundation structure and governance
- International Accounting Standards Board (IASB) role and responsibilities
- Standard-setting process and due process procedures
- IFRS Interpretations Committee and technical guidance
- International Organisation of Securities Commissions (IOSCO) oversight
- Regulatory framework and market integrity
Transcript
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