What We Do

It remains fundamental in the view of the IIF that high-quality international financial reporting standards are critical in today’s global financial markets. The Institute believes that robust international standards would best serve the needs of investors, issuers, regulators and the capital markets as a whole. The IIF and its Members have for a long time recognized the important role of consistent financial reporting for financial stability and the effective operation of today’s global financial markets.

The Institute’s accounting work is guided by the IIF’s Senior Accounting Group, the Institute’s principal forum of accounting experts. The Senior Accounting Group addresses financial reporting issues of international significance to financial institutions, including such questions as IFRS-US GAAP convergence and interactions between regulatory and accounting issues. Three times each year, the IIF holds the Three-Way Dialogue meeting among the IIF, the Accounting Task Force of the Basel Committee, and the International Accounting Standards Board. In recent years, the Three-Way Dialogue has been extended to include the participation of the U.S. Financial Accounting Standards Board and the U.S. Securities Exchange Commission.

Current Workflow

The IIF Senior Accounting Group continues to provide industry commentary on accounting proposals of international significance and strongly supports the IASB’s and the FASB’s commitment to convergence. The Senior Accounting Group’s recent submissions can be found in the Recent Releases section to the right.

Read more on the IIF Senior Accounting Group and the Three-Way Dialogue