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global financial stability report (GFSR) A report developed and published by the International Monetary Fund. The report is issued twice per year and provides updates on current economic conditions and financial markets worldwide. Topics covered may include systemic risk assessments, debt management, emerging markets, and current crises that impact the global financial picture.
International Financial Reporting Standards (IFRS) is a set of accounting standards developed by an independent, not-for-profit organization called the International Accounting Standards Board (IASB). The goal of IFRS is to provide a global framework for how public companies prepare and disclose their financial statements. IFRS provides general guidance for the preparation of financial statements, rather than setting rules for industry-specific reporting.