[Updated] Complete List of Active IFRSs, IASs, IFRIC, and SIC in 2022

What is IFRS?

International Financial Reporting Standards, or “IFRS” in short, is the financial reporting standard that The IFRS Foundation sets out. 

The purpose of these standards is evident. It is developed to promote transparency as well as the accountability of financial reports, which is really important for overall stakeholders in general and the financial market specifically.

When was IFRS introduced to the world?

In 2003, IFRS was introduced to be used for international financial reporting as the result of the effort of the International Accounting Standards Board (IASB), which was founded in 2001.

The following is the list of IFRS and IAS issued by the International Accounting Standard Board (IASB) in 2019. In 2019, there are 16 IFRS and 29 IAS. IAS will replace IFRS once it is finalized and issued by IASB.

List of Active International Financial Reporting Standards in 2022:

IFRSNoted
1. FRS 1 First-time adoption of International Financial Reporting Standards 
2. IFRS 2 Share-based payment 
3. IFRS 3 Business combinations 
4. IFRS 4 Insurance contracts 
5. IFRS 5 Non-current assets held for sale and discontinued operations 
6. IFRS 6 Exploration for and evaluation of mineral resources 
7. IFRS 7 Financial instruments: disclosures 
8. IFRS 8 Operating segments 
9. IFRS 9 Financial instruments 
10. IFRS 10 Consolidated financial statements 
11. IFRS 11 Joint arrangements 
12. IFRS 12 Disclosure of interests in other entities 
13. IFRS 13 Fair value measurement 
14. IFRS 14 Regulatory deferral accounts 
15. IFRS 15 Revenues from contracts with customers 
16. IFRS 16 Leases 
17. IFRS 17 Insurance Contracts

List of Active International Accounting Standards in 2022

IASNoted
1. IAS 1 Presentation of financial statements
2. IAS 2 Inventories 
3. IAS 7 Statement of cash flows 
4. IAS 8 Accounting policies, changes in accounting estimates, and errors 
5. IAS 10 Events after the reporting period 
6. IAS 11 Construction contracts 
7. IAS 12 Income taxes 
8. IAS 16 Property, plant, and equipment 
IAS 17 Leases Replaced by IFRS 16
IAS 18 Revenue Replaced by IFRS 15
9. IAS 19 Employee benefits 
10. IAS 20 Accounting for government grants and disclosure of government assistance 
11. IAS 21 The effects of changes in foreign exchange rates 
12. IAS 23 Borrowing costs 
13. IAS 24 Related party disclosures 
14. IAS 26 Accounting and reporting by retirement benefit plans 
15. IAS 27 Consolidated and separate financial statements 
16. IAS 28 Investments in associates and joint ventures 
17. IAS 29 Financial reporting in hyperinflationary economies 
IAS 31 Interest in joint ventures Replace by IFRS 11
18. IAS 32 Financial instruments: presentation 
19. IAS 33 Earnings per share 
20. IAS 34 Interim financial reporting 
21. IAS 36 Impairment of assets 
22. IAS 37 Provisions, contingent liabilities, and contingent assets 
23. IAS 38 Intangible assets 
24. IAS 39 Financial instruments: recognition and measurement 
25. IAS 40 Investment property 
26. IAS 41 Agriculture 

List of Active IFRIC Interpretations in 2022

NoIFRIC InterpretationsDescription
1IFRIC 1Changes in Existing Decommissioning, Restoration, and Similar Liabilities
2IFRIC 2Members’ Shares in Co‑operative Entities and Similar Instruments
3IFRIC 5Rights to Interests arising from Decommissioning, Restoration, and Environmental Rehabilitation Funds
4IFRIC 6Liabilities arising from Participating in a Specific Market—Waste Electrical and Electronic Equipment
5IFRIC 7Applying the Restatement Approach under IAS 29 Financial Reporting in Hyperinflationary Economies
6IFRIC 10Interim Financial Reporting and Impairment
7IFRIC 12Service Concession Arrangements
8IFRIC 14IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
9IFRIC 16Hedges of a Net Investment in a Foreign Operation
10IFRIC 17Distributions of Non‑cash Assets to Owners
11IFRIC 19Extinguishing Financial Liabilities with Equity Instruments
12IFRIC 20Stripping Costs in the Production Phase of a Surface Mine
13IFRIC 21Levies
14IFRIC 22Foreign Currency Transactions and Advance Consideration
15IFRIC 23Uncertainty over Income Tax Treatments

List of Active SIC Interpretations 2022

NoSIC InterpretationsDescription
1SIC-7Introduction of the Euro
2SIC-10Government Assistance – No Specific Relation to Operating Activities
3SIC-25Income Taxes—Changes in the Tax Status of an Entity or its Shareholders
4SIC-29Service Concession Arrangements: Disclosures
5SIC 32Intangible Assets – Web Site Costs

List of PRACTICE STATEMENT in 2022

NoPRACTICE STATEMENTDescriptions
1PRACTICE STATEMENT 1Management Commentary Practice Statement
2PRACTICE STATEMENT 2Materiality Practice Statement