Which organization develops the International Financial Reporting Standards (IFRS)?

The International Accounting Standards Board (IASB) is the organization responsible for developing the International Financial Reporting Standards (IFRS). These standards aim to provide a global framework for how public companies prepare and disclose their financial statements, ensuring consistency, transparency, and comparability across different jurisdictions.

The IASB works to enhance the clarity and integrity of financial reporting. By establishing a set of common accounting standards, the IASB facilitates investors' and stakeholders' ability to evaluate financial information across various countries, promoting increased confidence in the financial markets.

In contrast, the other organizations mentioned serve different purposes. For instance, the International Monetary Fund (IMF) focuses on fostering global monetary cooperation and financial stability, while the Financial Accounting Standards Board (FASB) is primarily responsible for establishing accounting standards specific to the United States. The Organisation for Economic Co-operation and Development (OECD) deals with economic policies and guidelines among its member countries but does not develop accounting standards like the IASB does.