Accounting standards issued by the International Accounting Standards Board (IASB).

The International Accounting Standards (IAS) Regulation (2002/3626/EC) requires entities that have their securities traded on an EU regulated market to prepare their consolidated accounts on an EU-adopted IFRS basis.

For financial years beginning on or after 11 pm on 31 December 2020, the consolidated accounts of a parent company whose securities are, on its balance sheet date, admitted to trading on a UK regulated market, must be prepared in accordance with UK-adopted international accounting standards (section 403, Companies Act 2006).

For further information, see Practice notes, Accounting standards used in the UK and Group accounts.