Acca financial Accounting (FA) Study Text ac ca (FA)

IFRS Interpretations Committee (IFRIC

®

) 

The IFRIC reviews widespread accounting issues (in the context of IFRS 

Standards) on a timely basis and provides authoritative guidance on these 

issues (IFRIC Interpretations

®

). Their meetings are open to the public and, 

similar to the Board they work closely with national standard setters. 

IFRS Advisory Council (The Council)  

The Council is the formal advisory body to the Board and the Foundation. It is 

comprised of a wide range of members who are affected by the Board's work. 

Their objectives include: 

•

 

advising the Board on agenda decisions and priorities in the their work, 

•

 

informing the Board of the views of the Council with regard to major 

standard-setting projects, and 

•

 

giving other advice to the Board or to the Trustees.