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Exam Code: T7
Exam Name: International Financial Reporting Standards for Compensation Professionals Exam
Updated: Aug 30, 2026
Q & A: 90 Questions and Answers
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Preparation Guide for International Financial Reporting Standards for Compensation Professionals (T7)
Introduction
WorldatWork is a global association for human resources management professionals and business leaders focused on attracting, motivating, and retaining employees. WorldatWork works to promote the role of human resources as a profession, offering training and certification in compensation, benefits, work-life, and total rewards. Founded in 1955 and known for most of its history as the American Compensation Association.
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| Section | Objectives |
|---|---|
| Topic 1: Conceptual Framework for Financial Reporting | - Relationship of conceptual framework to stakeholders - Qualitative characteristics of useful financial information |
| Topic 2: IAS 19 – Employee Benefits | - Post-employment and long-term benefits - Short-term employee benefits - Termination benefits and measurement considerations |
| Topic 3: IFRS and IASB Fundamentals | - Objectives and structure of International Financial Reporting Standards - Role and mission of the International Accounting Standards Board (IASB) |
| Topic 4: Accrual Accounting and Financial Statements | - Principles of accrual accounting - Purpose and elements of financial statements |
| Topic 5: IFRS Application to Compensation Practices | - Impact of IFRS on compensation and benefits reporting |
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