Trustees of the IFRS Foundation, responsible for the governance and oversight of the IASB, have outlined a series of changes, as follows:
- The board will be cut from 16 to 13 members
- The geographic distribution of members will be altered by combining the North American and South American allocations into a single ‘Americas’ category.
The trustees received vast support for the existing three-tier governance structure, however wish to:
- Enhance visibility of trustee oversight of the Board
- Make meetings of the Due Process Oversight Committee public.
The Trustees have conducted five review to date. It follows a period of acrimony between the IASB and MEPs to establish funding and how it is made accountable to tax payers.
For further information contact Salhan Accountants.
