The IFRS Foundation has published an updated version of the ‘Snapshot’ Financial Reporting Standards for the World Economy. It provides a more detailed analysis and an overview of the 140 jurisdiction IFRS profiles assessing the progress of IFRS as the global standard for financial reporting.
The IFRS Foundation has developed and posted profiles about the use of IFRS in individual jurisdictions. The project is managed by Paul Pacter.
The IFRS Foundation used information from various sources to develop the profiles. The starting point was the responses provided by standard-setting and other relevant bodies to a survey that the IFRS Foundation conducted. The IFRS Foundation drafted the profiles and invited the respondents to the survey and others (including regulators and international audit firms) to review the drafts.
The 140 profiled jurisdictions cover 97 per cent of the global GDP. So while the IFRS Foundation continues to develop IFRS profiles for a number of additional jurisdictions, it believes that the 140 existing profiles provide a comprehensive view of the use of IFRS around the world.
Full snapshot
© IASB - International Accounting Standards Board
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