The International Forum of Accounting Standard Setters (IFASS) is an independent grouping of national standard-setters from around the world, plus other organisations that have a close involvement in financial reporting issues. IFASS was formerly known as the National Standard Setters (NSS) group.
Following the formation of the International Accounting Standards Board (IASB), between 2001 and 2008 the IASB met with chairs of the national accounting standard setters who had an IASB liaison member in residence. These meetings were held to address shared challenges and coordinate responses to the IASB Technical Agenda. In 2006, the IASB issued a “Statement of Best Practice” to guide cooperation with national and regional standard setters, reinforcing the NSS’s role in supporting IFRS adoption and convergence.
The NSS group was formally established in 2008 and chaired by Ian MacKintosh (Chairman of the UK Accounting Standards Board). The inaugural meetings were held in Melbourne and Paris, including representatives from over 20 countries and observers from the IASB, EFRAG, and IPSASB. A key focus area for the NSS at this time was conducting research to inform IASB deliberations. The NSS agreed to publish meeting outcomes, maintain open membership, and meet biannually—often alongside the IASB’s World Standard Setters meeting. In 2012, the group was renamed the International Forum of Accounting Standard Setters (IFASS) to reflect its international scope.
As a contribution to the national standard setting community and to support emerging standard setters, the Australian Accounting Standards Board (AASB) introduced A Model for National Standard-Setters in 2014. This served to outline principles for effective standard-setting and set out ways in which networks of accounting standard-setters, can help make the development and implementation of Standards more effective and efficient. That same year, IFASS developed a Charter to formalise cooperation with the IASB.
Since then, IFASS has become a key platform for global dialogue on financial reporting and sustainability disclosures. The forum provides an opportunity for national accounting and sustainability disclosures standard setters, and other interested organisations, to discuss current issues and developments in corporate reporting. Its evolution from an informal network to an independent, structured international forum has made it a cornerstone of the global standard-setting landscape.
