Terms of Use

Please read these Terms of Use carefully as they govern your use of the International Accounting Standards Board (IASB) Website and your relationship with the International Accounting Standards Committee (IASC) Foundation. By accessing this Website or any of its contents you agree to be bound by the following provisions. Definitions of terms used are set out at the end of this document.

1. Copyright

1.1

The content and design of this Website, and any material emailed or otherwise supplied to you in conjunction with the Website, is copyright of the IASC Foundation. No duplication or reproduction of this content or material is permitted, except on the following terms.

1.2

Unless you have the prior permission of the IASC Foundation you must not use, reproduce, or allow anyone else to use or reproduce, any trade marks that appear on this Website. These trade marks include, but are not limited to, the IASC Foundation and IASB names and hexagonal logos.

1.3

The software that operates this Website is the property of the IASC Foundation. You must not copy, reverse engineer, modify or otherwise alter or manipulate this software.

1.4

As the User, you acknowledge the IASC Foundation’s copyright and other proprietary rights where they exist in the content and material provided. You acknowledge that you acquire no copyright or other proprietary rights in the content or material provided as it is viewed or received.

1.5

The content and material remains the copyright of the IASC Foundation in all countries and all languages.

1.6

The User receives no permission to translate, reprint, reproduce or utilise any part of this Website by any means, whether electronic, mechanical or otherwise, either currently known or yet to be invented, except as expressly provided for under these Terms of Use.

2. Grant of General License

2.1

The Terms of Use apply equally to all Users of this Website, regardless of what areas of the Website you are permitted to access or how such permission was granted. If these Terms of Use are inconsistent with a separate license agreement that exists between the IASC Foundation and a third party then the terms of that agreement shall prevail in respect of the third parties use of this Website. Use of the XBRL IFRS Taxonomies and related materials contained on this Website are governed by a separate license agreement (see section 3 of these Terms of Use).

2.2

To enable you to exercise the rights granted under these Terms of Use the IASC Foundation grants you the rights set out below. You must not view or access data, or supply data to any company, firm or individual except as set out in these Terms of Use. In particular:

2.3

You may access and make use of the documents available on this Website for personal and professional non-commercial purposes only. This includes permission to make reference to the Works when advising clients, but excludes permission to reproduce portions of the Works and provide them to clients.

2.4

You are permitted to use the content and material contained on this Website to inform yourself, your employer and your clients of the reporting requirements under International Financial Reporting Standards in connection with the normal function of their business or employment.

2.5

You are not permitted to access the restricted areas of the IASC Foundation Website without buying a subscription from the IASC Foundation, unless such access is permitted under a separate licence agreement.

2.6

You may make the IASC Foundation Website available to others through your own Website or in e-mail correspondence by hypertext linking, for the avoidance of doubt, this includes permission to deep link to pages other than the IASC Foundation Website home page, provided that such links do not permit users to enter password-protected areas of the Website without buying a subscription from the IASC Foundation. The IASC Foundation accepts no responsibility if the target of any hypertext link is moved or removed.

2.7

These Terms of Use do not permit you to reproduce, distribute or sublicense the Works or other content of this Website in any format, other than the limited circumstances allowed herein.

2.8

You have the right to reproduce, in hard copy or in electronic format:

(a)	not more than 5 copies of any individual standard or specific document of the Works for use in connection with the Subscriber’s profession or business.
(b)	up to 10 copies of extracts for use in connection with the Subscriber’s profession or business. An extract shall be no more than 25 per cent of any complete standard or other document.

2.9

Any copies of individual International standards or extracts must be accompanied by an acknowledgement in the form:

© Copyright International Accounting Standards Committee Foundation.

2.10

You are not permitted to reproduce, either in hard copy or in electronic format, any part of this Website including, but not limited to, the Works, in order to create a commercial product. This includes the reproduction of any part of this Website in a product distributed for Commercial gain or through its use in connection with any seminar, conference, training or similar Commercial event. These uses require the prior written permission from the IASC Foundation. The IASC Foundation reserves the right to charge a fee for such use.

2.11

You must obtain the IASC Foundation’s approval before producing more copies than those permitted in clause 2.8 or using the Works for one of the purposes set out in clause 2.10.

2.12

You must not, in any circumstances, use or reproduce the IASC Foundation and IASB hexagonal logos without prior consent.

3. Use of XBRL Taxonomies

3.1

This Website hosts the IASC Foundation’s XBRL IFRS General Purpose taxonomy and related resources which are available for download. The download and use of these materials is governed by the IASC Foundation’s XBRL IP policy. Click here to view this policy.

4. License Fees & Subscription Services

4.1

Access to certain areas of the IASC Foundation Website may be subject to payment of a fee.

4.2

Payment for access to restricted areas of the IASC Foundation Website must be made in advance and in British Pounds Sterling (GBP).

4.3

Where access to restricted areas of the IASC Foundation Website is facilitated by a username (e-mail address) and password, this username and password is for the exclusive use of the Individual User to which it is assigned. Sharing your username and password is expressly prohibited, and may result in your subscription being suspended or terminated.

4.4

Access to the IASC Foundation subscription services is subject to a ‘fair use’ policy. If the IASC Foundation suspects you of abusing you subscription it reserves the right to suspend or terminate your access subject to clause 4.5.

4.5

If your access to an area of the Website which you have paid for access to is terminated by the IASC Foundation, you may be entitled to a refund or partial refund, unless termination was as a result of your failing to comply with these Terms of Use.

4.6

Any refund referred to in clause 4.5 will be calculated on a pro rata basis.

4.7

If you become entitled to a refund under the provisions of clause 4.5 the IASC Foundation reserves the right, at its sole discretion, to extend your subscription to compensate you for the period during which access was denied rather than to provide a monetary refund.

5. Use of IASC Foundation Bookshop

5.1

The prices of items offered by the IASC Foundation online bookshop are clearly set out on the Website and include VAT. Delivery may be included in the price or may be charged for separately, where delivery is charged separately this will be clearly indicated. If by mistake we have under priced an item we will not be liable to supply it to you at that price provided we notify you before dispatching the goods.

5.2

If for any reason beyond our control we are unable to supply you with a particular item we will notify you as soon as possible. The IASC Foundation shall not be liable to supply such goods provided notification is given before payment is collected.

5.3

No contract of any kind exists between the IASC Foundation and a user placing an order until the IASC Foundation collects payment for the goods. At any point up to then the IASC Foundation may decline to supply the goods without giving a reason. At the moment payment is collected, and not before, a contract exists between the IASC Foundation and the purchaser and we will arrange for dispatch of the goods.

5.4

Delivery will be made to a single address specified in the order. The IASC Foundation will use reasonable endeavors to secure delivery within 30 days of the date of the order (with the exception of advance orders). However, we shall not be liable for loss occasioned by delay in delivery arising out of any cause beyond our control.

5.5

Payment may be made by American Express, Visa or MasterCard credit or charge cards or any Switch or Maestro debit card. Card details will be encrypted to minimise the possibility of unauthorised access or disclosure. Authority for payment must be made at the time of the order.

5.6

5.7

The IASC Foundation may, at its sole discretion, offer discounts to certain groups of customers or on orders of a certain size. These discounts will be clearly displayed on the Website. Only one discount rate may be applied to any order.

6. Bookshop Refunds and Returns

6.1

The provisions of clause 6 do not apply to purchases of CD-ROMs or Subscriptions that include services delivered through the internet, nor do they apply to purchases made by bookshops or other commercial entities, or made by an employee on behalf of a Commercial entity.

6.2

You have the right to cancel your order up to 14 days after the day following delivery of the goods.

6.3

If the goods have been dispatched by the time the IASC Foundation receives the cancellation notice you must return the goods to the IASC Foundation and we will refund the purchase price to your credit or debit card within 30 days of the notice of cancellation.

6.4

If you do not return the goods within 21 days of the date of cancellation we will make a charge in respect of collection and recovery of the goods.

6.5

If you do not make the goods available for collection or recovery within 30 days of your notice of cancellation you will be deemed to have accepted the goods. At that point a new contract will be formed and you will be charged for the product at the price set out on the Website.

6.6

Any goods returned to the IASC Foundation must be in good resalable condition; if not you will be charged for them.

6.7

If for any reason your goods arrive in a damaged or otherwise unsatisfactory condition the IASC Foundation will replace them. Please contact the IASC Foundation Publications Department to arrange the return of the defective products and dispatch of replacements. Please do not return defective goods to the IASC Foundation until requested to do so.

6.8

The provisions of clause 6 do not affect your statutory rights.

7. Disclaimer

7.1

The content and material contained on this Website is provided for general information purposes only. It does not constitute accounting or other professional advice. Neither the IASC Foundation nor any other associated entity accepts any responsibility for any loss or damage that may arise from reliance on information contained on this Website.

7.2

While every attempt has been made to ensure the quality and accuracy of this Website the IASC Foundation makes no warranties express or implied regarding the content of this Website.

7.3

The IASC Foundation disclaims all warranties express and implied to the maximum extent permitted by law including but not limited to warranties of fitness for purpose and merchantability.

7.4

In no event shall the IASC Foundation be liable for any damages either express, incidental, consequential or special, including but not limited to, damages for loss of profits, business interruption or other pecuniary loss.

7.5

The IASC Foundation does not guarantee that this Website is free from viruses or other destructive or contaminating content.

7.6

The IASC Foundation reserves the right to change, modify, suspend, add, remove or restrict access to the Website or parts of it at its discretion, without prior notice.

7.7

The IASC Foundation may at its sole discretion terminate or suspend your access to all or part of the Website with or without cause and without notice.

7.8

The IASC Foundation Website may contain links to third party websites not controlled by the IASC Foundation. The IASC Foundation accepts no responsibility for the content of such sites or that these links will continue to function. The use of third party content is to be governed by the terms of the site on which it is hosted and the IASC Foundation accepts no responsibility for this.

8. General Terms

8.1

As used herein, unless the context otherwise requires, the masculine includes the feminine, and the neuter includes the masculine and the feminine.

8.2

As used herein, unless the context otherwise requires, the singular includes the plural and vice versa.

8.3

References to any enactment, order, regulation or other similar instrument shall be construed as a reference to the enactment, order, regulation or instrument or any subsequent re-enactment.

8.4

References in these Terms of Use to sections, clauses and schedules are to the sections, clauses of and schedules of these Terms of Use.

8.5

If any provision of these Terms of Use are declared by any judicial or other competent authority to be void, voidable, illegal, or otherwise unenforceable, or indications of this are received by either of the parties from any relevant competent authority, the remaining provisions of these Terms of Use shall remain in full force and effect.

8.6

The failure by either party to enforce at any time or for any period any one or more of the terms or conditions of these Terms of Use shall not be a waiver of them or of the right at any time subsequently to enforce all terms and conditions of these Terms of Use.

8.7

Headings contained in this agreement are for reference purposes only and shall not be incorporated into this agreement and shall not be deemed to be any indication of the meaning of the clauses to which they relate.

8.8

These Terms of Use shall be governed by, and construed in accordance with, English law. It is hereby irrevocably agreed and accepted that the Courts of England and Wales are to have exclusive jurisdiction to settle any claim, difference or dispute (including, without limitation, claims for set-off or counterclaims) which may arise out of or in connection with these Terms of Use. Each party irrevocably waives any right it may have to object to an action being brought in such Courts, to claim that the action has been brought in an inconvenient forum or to claim that such Courts do not have jurisdiction.

Definitions

For the purposes of the Terms of Use of this Website the following terms shall be accorded the assigned definitions. These definitions shall only apply to the Terms of Use of this Website and related agreements. They shall not apply to any of the documents or Works contained on this Website.

‘Commercial’ – Pertaining to commerce and having either monetary or non-monetary gain as motive.

‘Data’ – Any information in print or electronic format including the Works and updates in electronic or other format as agreed between the parties.

‘Electronic Format’ – Any format other than print, including those actuated by or as a result of analogue, digital, electronic, compact disk, electrical, magnetic, optical, laser, acoustic, or any such similar technologies, and/or devices accessed using personal computers, workstations, local area networks, wide area networks, intranets, the Internet, or other dial-in access.

‘IFRIC’ – The International Financial Reporting Interpretations Committee.

‘Individual User(s)’ – A distinctly identifiable individual natural person who has access to password-protected areas of this Website through the licensee’s services.

‘Professional Use’ – Use of the content and material in a professional capacity in connection with accounting or other related business.

‘Subscribers’ – Companies, firms, individuals or other legal entities that have access to the IASC Foundation Website’s password-protected areas.

‘Taxonomy’ – Taxonomy in general means a catalogue or a set of rules for classification; in XBRL, a taxonomy contains computer-readable definitions of business reporting terms as well relationships between them and links connecting them to human-readable resources; a typical taxonomy consists of a schema (or schemas) and linkbases; a set of these files that could be discovered from one entry point schema is called discoverable taxonomy set, for example the IFRS-GP taxonomy. The term is used to refer to all versions of the IFRS-GP for the purposes of this document

‘User(s)’ – All companies, firms, individuals or other legal entities that have access to the IASC Foundation Website.

‘Website’ – The IASB/IASC Foundation website including all web pages or other content or material that comprise it.

‘Works’ – The copyright content and material of the International Accounting Standards Committee Foundation (IASC Foundation) that is published on this Website. This content and material includes but is not limited to the following:

i) International Financial Reporting Standards (IFRS)

ii) International Accounting Standards (IAS)

iii) IFRIC Interpretations

iv) SIC Interpretations

v) Basis for Conclusions for IFRSs and IASs

vi) Implementation Guidance for IFRSs and IASs

vii) Appendices to IFRSs and IASs

viii) Basis for Conclusions for IFRIC & SIC Interpretations

ix) Appendices to IFRIC & SIC Interpretations

x) Illustrative Examples

xi) IASB Framework for the Preparation and Presentation of Financial Statements

xii) Preface to IFRSs

xiii) IASB Due Process Handbook

xiv) Introduction

xv) Glossary

xvi) Constitution

xvii) IASB and IASC Foundation Discussion Papers

xviii) IASB and IASC Foundation Exposure Drafts

xix) IFRIC Draft Interpretations

xx) IASB Insight

xxi) IASB Update

xxii) IFRIC Update

‘XBRL’ – Extensible Business Reporting Language, a language based on the XML standard for the electronic communication of business and financial data.