IAS Compliance | Investment Accounting & Derivative Valuation Solutions
Prior to 2001, the International Accounting Standards was a set of rules and regulations designed to standardize accounting standards and particular types of transactions, and how they are reflected in financial statements. IAS standards were issued by the Board of International Accounting Standards Committee (IASC).
Since 2001, new accounting standards appropriately named the International Financial Reporting Standards (IFRS) were issued by the International Accounting Standards Board.
At this time, the IASC has no authority to require IAS compliance from companies and their financial reporting; however, some countries still require the financial statements of publicly traded companies to be prepared according to IAS standards.