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Summary of the IFRS Foundation Trustees’ meeting in June 2015

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  • IFRS - Meeting Image

Jul 08, 2015

On July 8, 2015, the Trustees of the IFRS Foundation announced the conclusions of their meeting held in London on June 18-19, 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 and IFRS Foundation Monitoring Board were updated on (1) governance developments, (2) due-process activities, (3) the IFRS Foundation’s financial situation, and (4) the IASB’s technical activities and mission statement. In addition, the trustees discussed significant international developments concerning use of IFRSs in Europe, the Americas, Asia-Oceania, Africa, and the Middle East. Further, the trustees were updated on the (1) progress of the IFRS Foundation’s review of its structure and effectiveness and (2) nominations of new ASAF members.
  • IASB chair­man’s report — IASB Chairman Hans Hoogervorst gave an update on the IASB’s progress on its conceptual framework, leases, disclosure initiative, and insurance projects.
  • Report of the Due Process Over­sight Com­mit­tee (DPOC) — Jim Quigley led a discussion about the DPOC’s June 2015 meeting. For more in­for­ma­tion, see our related news item.
  • Tommaso Padoa-Schioppa lecture — The IFRS Foundation jointly hosted an event with the European University Institute to discuss “systemic drivers of the 2008 financial crisis” and proposed reforms.

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

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