Who uses IFRS?

When I teach accounting to students with no prior accounting knowledge, I usually cover some of the regulatory framework around financial reporting. One commonly adopted set of regulations are the International Financial Reporting Standards, or IFRS.

One question often posed to me in class is what countries use IFRS? The quickest answer is lots of countries, and I often mention the big economies that don’t require the use of IFRS for public companies- the US, India and China. Recently then IFRS organisation has created an interactive map showing which countries use IFRS. The link is here, and its a very useful resource.