Global Standards for the world economy

Tuesday 11 December 2018

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IFRS adoption and copyright

Copyright licensing


The IFRS Foundation owns the copyright to IFRS and can enable a jurisdiction to reproduce IFRS in its legislation by waiving copyright within that jurisdiction. This is not an assignment of copyright; instead the IFRS Foundation waives its claims to copyright within that jurisdiction in order to allow the requirements to become law and to be published by the jurisdiction.

Copyright waived

This is accomplished by entering into an agreement with the appropriate entity to waive the IFRS Foundation's copyright on the requirements within that jurisdiction. The requirements exclude additional material such as Bases for Conclusions, Implementation Guidance, and Illustrative Examples. An annual fee to assist in funding the continued development of IFRS by the IFRS Foundation will form part of this agreement.

If a country requires the Standards in English, or a language that already has an official translation, the IFRS Foundation will provide the requirements in the appropriate language. If an official translation does not exist, the IFRS Foundation will work with the appropriate entity to create a translation following the Official Translation Process.

Free distribution

Once the agreement has been signed, the requirements in the appropriate language may be distributed freely within that jurisdiction, without copyright restriction. The IFRS Foundation maintains the copyright on the requirements outside of that jurisdiction, and also the copyright on the additional material (Bases for Conclusions, Implementation Guidance, Illustrative Examples etc.) both inside and outside of that jurisdiction.

Convergence

In order to converge the local standards with IFRS, it is likely that some IFRS copyright material will need to be incorporated within the local standards. Permission from the Foundation for the use of IFRS in local standards is therefore essential. A contract describing the terms of use, and the treatment of copyright of IFRS within the local standards will be necessary. Distribution of the local standards will be restricted to that jurisdiction. Relevant entities in jurisdictions following a convergence model should contact the Translation, Adoption & Copyright  team to discuss the necessary contracts.

Commercial and not-for-profit use of IFRS

For copyright and licensing questions about the reproduction of IFRS contents for commercial and not-for-profit publications, please see our section on Frequently Asked Questions or contact the Translation, Adoption & Copyright team.

 

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