Deloitte comment letter on IFRS Foundation Public Consultation 'Status of Trustees’ Strategy Review'
We commend the IFRS Foundation Trustees for the openness, thoroughness and timeliness of this review and the efforts that have been made to engage with constituents and encourage participation in this important activity.
We wish to highlight a number of issues relating to governance that we see as fundamental to the success of the Trustees’ review and the concurrent and independent review of the IFRS Foundation’s governance being undertaken by the Monitoring Board.
The governance of the IASB is critical to achieving the G20’s goal of a single set of high-quality global financial reporting standards, and we see the Report through this lens.
It is important that the governance structure fosters high quality by achieving a proper balance between accountability, effective oversight and legitimacy of the IASB on one hand and its technical independence on the other.