Global Standards for the world economy

Wednesday 18 July 2018

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IFRS translations

Role of the IFRS Foundation in the translation process


Translations of IFRS are initiated by the Foundation’s Translation, Adoption & Copyright (‘TAC’) team in response to requests from jurisdictions adopting or developing an interest in IFRS.

Each language is assigned a TAC Project Manager who acts as key support and contact.

The role of the TAC team in the translation process includes:

  • reviewing and approving the composition of the review committee to ensure an appropriate balance of perspectives, and designating one person as the co-ordinator of the review committee;
  • reviewing regularly, and in a timely manner, together with the co-ordinator, the review committee’s process;
  • providing files for translation or review and relevant reference material as appropriate;
  • monitoring the effectiveness of the review committee;
  • liaising with IASB technical staff regarding the meaning of the English text; and
  • providing advice on translation best practice and support for Computer-Assisted Translation (‘CAT’) software.

 

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