Activity Description Budget category Humanitarian
response
Support National Societies in their programmes to support disaster affected
and vulnerable people.
Other resources
(Restricted)
activities
Thematic
Support National Societies in their individual organisational development.
Supplementary
services
Provide cost-effective, relevant and demand driven services to individual and
groups of National Societies.
Governance and
Secretariat
activities
Fulfil the IFRC’s constitutional role as the permanent body of liaison and
coordination among National Societies representing the Red Cross and Red
Crescent globally and providing network wide services.
Regular
resources
(Unrestricted)
activities
1.2 Significant accounting policies and basis of preparation This note contains the IFRC’s significant accounting policies that relate to the consolidated financial statements as a
whole. Accounting policies specific to one note are described in that particular note.
(a) Statement of compliance The consolidated financial statements have been prepared in accordance with the International Financial Reporting
Standards (IFRS) issued by the International Accounting Standards Board (IASB) and are presented in accordance with
the IFRC’s Financial Regulations.
IFRS do not contain specific guidance for non-profit organisations and non-governmental organisations concerning the
accounting treatment and the presentation of financial statements. Where IFRS are silent or do not give guidance on how
to treat transactions specific to the not-for-profit sector, accounting policies selected are based on the general principles
of IFRS, as detailed in the IASB Conceptual Framework for Financial Reporting. The consolidated financial statements
have been prepared on a historical cost basis, except where otherwise indicated.
The consolidated financial statements of the IFRC for the year ended 31 December 2022 were approved and authorised
for issue by the Audit and Risk Commission on 2 May 2023.
