IFRS Interpretation Committee

The IFRS Interpretation Committee is a group that helps clarify how to apply International Financial Reporting Standards (IFRS), which are global rules for preparing financial statements. When companies or accountants encounter tricky or ambiguous accounting issues, they can ask the committee for guidance. The committee then provides official interpretations or explanations to ensure consistent and transparent financial reporting across different companies and countries. This helps maintain trust and comparability in financial information worldwide.