IFRS
Also called: International Financial Reporting Standards
International Financial Reporting Standards, a set of accounting standards used in many countries, on which India's Ind AS are based.
IFRS are issued by an international standard-setting body and used by companies in many countries, which makes their accounts broadly comparable. India converged its standards with IFRS as Ind AS rather than adopting them word for word.
Learn more in these lessons
- Indian accounting standards (Ind AS)What are Ind AS, and why do accounting rules matter when comparing companies?
Related terms
Spotted a mistake or something unclear? Report it by email. Here is how corrections work.