Global Standards for the world economy

Sunday 28 February 2021

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IFRS translations

IFRS Translation Review Committees

The IFRS Foundation’s Translation, Adoption & Copyright (‘TAC’) team approves members of the review committees so that they comprise groups of people representing the best available combination of technical expertise and diversity of international business and market experience in order to contribute to the development of high quality translations of IFRS.

The TAC team approves members on the basis of the following criteria:

  1. Native speaker of the Target Language
    It is essential that members of the review committee are native speakers of the Target Language.
  2. Very good knowledge and understanding of English, usually fluent
    The approved text of IFRS is that issued by the IASB in English.  Because members of the review committee must review the translated text against the source English text, they must have a very good knowledge and understanding of English.
  3. Demonstrated technical competence and knowledge of financial accounting and reporting
    All members of the review committee, regardless of whether they are from the accounting profession, preparers, users or academics, should have demonstrated a high level of knowledge and technical competence in financial accounting and reporting.  The credibility of the review committee and its individual members, and the effectiveness and efficiency of the translation process, will be enhanced by members who have such knowledge and skills.
  4. Commitment to the IFRS Foundation’s mission and public interest
    Members should be committed to achieving the objective of the Foundation of establishing international financial reporting standards that are of high quality, comparable and transparent.  Members contractually assign all copyright to the translation to the Foundation.  They also contractually waive all moral rights in the translation.  However, the Foundation will acknowledge their valued contribution on its website, so that their work is recognised.

The TAC team oversees and provides support for the operations and process of the Review Committee throughout all stages of the process. More details are available in Role of the IFRS Foundation in the translation process.

The IFRS Foundation would like to acknowledge and thank the review committee members for their valued contribution. Please visit this page again in the future, as we will publish the names of the members of our review committees here.