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Preface to IFRS Standards



This Preface is issued to explain the scope, authority and timing of application of IFRS Standards. The Preface was most recently amended in December 2018.


The International Accounting Standards Board (Board) was established in 2001. The Board was preceded by the Board of the International Accounting Standards Committee (IASC). When the term IFRS Standards is used in this Preface, it includes Standards and IFRIC® Interpretations issued by the Board, and International Accounting Standards and SIC® Interpretations issued by its predecessor, the IASC.


The Conceptual Framework for Financial Reporting (Conceptual Framework) is not a Standard. The Conceptual Framework describes the objective of, and the concepts for, general purpose financial statements and other financial reporting. The purpose of

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