1. Global Financial Regulatory Framework
Masters in Accountancy (MACC508)
Global Financial Regulatory Framework
Regulating Accounting, Auditing and Financial Reporting

2. Regulating Accounting, Auditing and Financial Reporting
The International Financial Reporting Interpretation Committee (IFRIC)

3. What does IFRIC Do?
IFRIC assists the IASB in improving financial reporting through timely identification, discussion of financial reporting issues within the framework of IFRS

4. Scope Provide interpretive guidance,
Apply conceptual framework in coming out guidance on principle based approach.

5. Due process Stage 1: Identification of Issues
Stage 2: Setting the agenda;
Stage 3: Meeting and voting
Stage 4: Development of a draft interpretation (Research);
Stage 5: The IASB role in the release of a draft interpretation (comments and reach consensus)
Stage 6: Comment period and deliberation (60 days);
Stage 7: The IASB’s role in an Interpretation (ratification)

6. End of Slides on the study