The organisational structure consists of: 1) The IFRS Foundation, 2) The IASB 3) The IFRS Advisory Council 4) The IFRS Interpretations Committee.

The International Accounting Standards Board is an independent, privately-funded accounting standard
setter based in London. The 15 members of the IASB come from nine countries and have a variety of backgrounds with a mix of auditors, preparers of financial statements, users of financial statements and an academic. The Board
consists of 12 full-time members and two part-time members.

The formal objectives of the IASB, formulated in its mission statement are:
(a) To develop, in the public interest, a single set of high quality, understandable and enforceable
global accounting standards that require high quality, transparent and comparable information in
general purpose financial statements
(b) To promote the use and vigorous application of those standards
(c) To work actively with national accounting standard setters to bring about convergence of national
accounting standards and IFRS to high quality solutions.