Political pressure never affects the IFRS standard-setting process.

Question

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While the International Accounting Standards Board (IASB) strives to ensure that its standard-setting process is immune to political pressure, it is not completely insusceptible to it. The IASB is accountable to its parent organization, the International Federation of Accountants (IFAC), which is a non-governmental organization, but it must also consider the views and interests of its stakeholders, including governments, regulators, and industry groups, among others. These stakeholders may exert pressure on the IFRS standard-setting process through public comments, lobbying, or other means. However, the IASB has established safeguards to limit the influence of political pressure on its work, such as its due process and consultation procedures, the composition of its board, and its transparency and accountability mechanisms.

Political Pressure Never Affects the IFRS Standard-Setting Process