The [International Organization of Securities Commissions](http://www.iosco.org/) (IOSCO) and the [IFRS Foundation](http://www.ifrs.org/About-us/IFRS-Foundation/Pages/Home.aspx) have announced a Statement of Protocols that describes an ambitious programme of work to promote and facilitate transparency within capital markets through the development and consistent application of IFRS Standards.
[Statement of Protocols](http://www.iosco.org/library/agreements-with-other-institutions/IOSCO%20-%20IFRS%20Foundation%20Statement%20of%20Protocols%20for%20Cooperation%20on%20IFRS.pdf)
This builds upon existing protocol arrangements between IOSCO and the IFRS Foundation, issued in 2013.
Michel Prada, Chair of the IFRS Foundation Trustees, says: *“IOSCO has long supported the work of the IFRS Foundation, and the input of IOSCO and its members has helped shape the development and implementation of IFRS Standards. This initiative will provide an important framework for future cooperation as we work toward the shared goal of high quality standards for the global capital markets.”*
Ashley Alder, Chair of the IOSCO Board, adds: *“This new protocol between IOSCO and the IFRS Foundation will further enhance the way in which the two organisations work together to ensure that global capital markets are founded on sound and transparent financial disclosure. I very much look forward to working with the IFRS Foundation under these enhanced cooperative arrangements.”*