The
International Organization of Securities Commissions (IOSCO) and the IFRS Foundation
have published a joint Statement of Protocols for cooperation on IFRSs, aiming
to "promote and facilitate transparency within capital markets through the
development and consistent application of IFRS Standards."
This
Statement of Protocols builds upon the protocol arrangement issued by the same
organisations in September 2013 by outlining objectives for each of the
following interactions between IOSCO
and the IFRS Foundation:
Strategic
discussions — Discussion of broad financial reporting issues between the
leadership of IOSCO and the IFRS Foundation; Development of IFRS Standards —
Sharing of information and active contribution from IOSCO to the
standard-setting process; and Implementation of IFRS Standards — Sharing
information to support both parties in their work in the application of IFRS
Standards on a globally consistent basis.
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