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This is a listing of some of the more common terms and definitions associated
with Sarbanes Oxley and Sarbanes Oxley compliance, and Sarbanes Oxley Software.
IFRIC:
- IFRIC Definition
The IFRIC, International Financial Reporting Interpretations Committee,
is the interpretative body of the International Accounting Standards Board
(IASB) and consists of twelve voting members under the non-voting chairmanship
of the IASB’s Director of Technical Activities. The role of the IFRIC
is to interpret the
application of International Financial Reporting Standards (IFRSs) to ensure
consistent accounting practices throughout the world and to provide timely
guidance
on financial reporting issues not specifically addressed in IFRSs, within
the context of the IASB’s Framework. The IASB and the IFRIC are overseen
by the nineteen
Trustees of the International Accounting Standards Committee
(IASC) Foundation, chaired by Paul A. Volcker, who also appoint
the members of those bodies.
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www.openpages.com.
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