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Nouvel appel à commentaires sur la revue de la Constitution

Article publié le 6 June 16

Trustees conclude 2015 Review of Structure and Effectiveness of the IFRS Foundation; propose amendments to Constitution

To further enhance governance and funding arrangements of the IFRS Foundation

  • enhanced transparency: the Trustees received broad support for the existing three-tier governance structure, but will take steps to enhance visibility of Trustee oversight of the Board, including making meetings of the Due Process Oversight Committee public;
  • geographical balance: change the geographical distribution of both the Trustees and the Board by combining the North American and South American allocations into a single ‘Americas’ category, to allow for even distribution and better representation across the entire region;
  • size of the Board: reduce the size of the Board from 16 to 13 members, with the flexibility to appoint a 14th (at-large) member if appropriate; and
  • funding: the Trustees received broad support to maintain the current ‘three-pillar’ funding model until the funding regime based on publicly supported financing is fully achieved.

To strengthen the relevance of IFRS Standards

  • technology and financial reporting: accelerate work to address barriers to high-quality digital reporting by collaborating with investors, securities regulators and others to ensure the IFRS Taxonomy remains fit for purpose. At the same time, the Foundation will establish a network of experts to provide advice on technological innovation and its impact and relevance to IFRS Standards; and
  • remit: retain the existing focus of the Board on for-profit entities, with no expansion at this time to cover either the public sector or the private not-for-profit sector. While the focus of the Board will remain on financial reporting, further work will be done to consider the Board’s future role and work plan within the context of developments in wider corporate reporting.

To support consistent application of IFRS Standards

  • resources: while the Board’s focus remains on producing high-quality Standards based on clear principles, there will be an increased emphasis on activities to support the consistent application of IFRS Standards. This includes the realignment of education, implementation support and interpretation activities into a single team;
  • programmes: continue to develop additional resources and materials to assist the consistent implementation of major new Standards, including the provision of online resources; and
  • enhanced cooperation: continue to develop relationships with securities regulators (for example IOSCO, through the recently updated joint Statement of Protocols) and others to support implementation of IFRS Standards around the world.

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