Further to the restructuring of the IASC, the new Board on 1 April 2001, as one of its first decisions, renamed the IASC into the International Accounting Standards Board (IASB) and, as far as future international accounting standards are concerned, IAS into International Financial Reporting Standards (IFRS).
Im Anschluss an die Umstrukturierung des IASC war einer der ersten Beschlüsse des neuen Board am 1. April 2001 die Umbenennung des IASC in International Accounting Standards Board (IASB) und, was die künftigen internationalen Rechnungslegungsgrundsätze anbelangt, der IAS in International Financial Reporting Standards (IFRS).