IFAC has submitted comments on the IFRS Conceptual Framework ED. IFAC commends the International Accounting Standards Board (IASB) on its efforts in reactivating the Framework project, and recommends a number of additional conceptual areas for consideration including in regard to business models, and financial performance. IFAC also provides specific comments and recommendations regarding several areas in the ED including stewardship, prudence, definitions of assets and liabilities, measurement bases, and presentation and disclosure.

The International Federation of Accountants^® (IFAC^®) and Fédération Internationale des Experts Comptables et Commissaires aux Comptes Francophones (FIDEF), an acknowledged grouping of French-speaking accountancy bodies, have signed a Memorandum of Understanding (MoU) to establish a cooperation framework to achieve longer-term, sustainable processes for French translations of international standards and other IFAC publications. The agreement was commemorated with a formal signing ceremony in connection with the IFAC Council meeting held in Singapore on November 11, 2015. French is a significant language for translations as it is spoken by about 274 million people around the world and is an official language in 29 countries. The MoU will enable creation of high-quality, up-to-date, sustainable French-language translations of the international standards and other agreed-upon IFAC publications, and enhance adoption and consistent implementation of international standards in the French-speaking world.

For an overview of translations of IFAC’s publications, visit the IFAC Translations Database.