The global body that sets corporate financial accounting and sustainability reporting rules returned to profit last year after aggressive cost cutting, it announced Tuesday, while acknowledging it needs a new funding model.
The IFRS Foundation, parent of both the International Accounting Standards Board and the International Sustainability Standards Board, said in releasing its annual report that it had a pre-tax surplus of £1.7 million ($2.25 million) in 2025, reversing a £1.6 million loss the previous year. Income fell to £66 million, from £68 million in 2024.
IASB standards are used by major economies including the European Union, Japan, the ...
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