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Summary of the IFRS Foundation Trustees’ meeting in April 2015

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  • IFRS - Meeting Image

May 01, 2015

On May 1, 2015, the Trustees of the IFRS Foundation announced the conclusions of their meeting held in Toronto on April 14-16, 2015. The Trustees are responsible for the governance and oversight of the International Accounting Standards Board (IASB).

Meeting ac­tiv­i­ties in­cluded the fol­low­ing:

  • Ex­ec­u­tive session The Trustees agreed to respond to the European Commission’s Green Paper, Building a Capital Market Union, and to draft a consultation document on the review of structure and effectiveness of the IFRS Foundation. In ad­di­tion, updates were given on (1) the review of the ASAF’s op­er­a­tions, (2) developments in the United States, (3) Canada’s perspective on financial reporting issues, (4) commercial opportunities, and (5) other administrative matters.
  • IASB chair­man’s report — IASB Chair­man Hans Hooger­vorst gave an update on the IASB’s progress related to its leases project and the work of the Revenue Transition Resource Group.
  • Report of the Due Process Over­sight Com­mit­tee (DPOC) — Michael Prada, chair­man of the IFRS Foun­da­tion Trustees, led a dis­cus­sion about the DPOC’s April 2015 meeting with the IASB. For more in­for­ma­tion, see our related news item.
  • Re­gional out­reach ac­tiv­ity — The IFRS Foun­da­tion jointly hosted an event with the AcSOC, the AcSB and CPA Canada.

The full report on the IFRS Foun­da­tion Trustees’ meeting is avail­able on the IASB’s website.

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