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Thursday 29 October 2020

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Review of Structure and Effectiveness 2015 Request for Views and Comment Letters

On 7 July 2015, the Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), published for public comment proposals to further enhance the structure and effectiveness of the organisation.

The IFRS Foundation’s Constitution requires the Trustees to undertake a review of the structure and effectiveness of the organisation every five years. Previous reviews, conducted in 2005 and 2010, recommended significant enhancements to the governance, accountability and operational efficiency of the IFRS Foundation and the IASB, while a Governance Review by the IFRS Foundation Monitoring Board was completed in 2012. The recommendations of all reviews were implemented in full.

The review is focussing on three main areas:

  1. ensuring that the relevance of IFRS is maintained: considering the evolving financial, and wider corporate, reporting landscape, as well as potential implications of technological developments for financial reporting;
  2. consistency of the application of IFRS: looking at the IFRS Foundation’s approach to supporting the consistent application of IFRS and whether there is anything more it could, or should, be doing considering the limitations; and
  3. governance and financing: proposing further enhancements, including changes with respect to the size of the IASB.

Comment letters

The IFRS Foundation sought comments on this Request for Views by 30 November 2015.

The comment letters are now being analysed. The Trustees had an initial consideration of the feedback at their January 2016 meeting (see meeting summary here) and will consider a more detailed analysis and proposals at their May 2016 meeting.

View the comment letters.

Due process documents
Request for Views IFRS Foundation Trustees’ Review of Structure and Effectiveness: Issues for the Review [PDF]

意見募集 体制とその有効性に関する評議員会のレビュー:レビューにあたっての論点 [PDF]


David Loweth
Director for Trustee Activities