The Monitoring Board's Final Report on the Review of the IFRS Foundation's Governance published in February 2012 identified a number of enhancements to the governance framework including expanding the Monitoring Board’s membership and beginning periodic assessments of the members against membership criteria.

These criteria were announced on 1 March 2013:

• The jurisdiction has made a clear commitment to IFRSs and promotes global acceptance of a single set of high quality international accounting standards. It mandates or permits the application of IFRSs to consolidated financial statements of companies raising capital in its relevant market.
• The IFRSs to be applied are essentially aligned with IFRSs developed by the IASB.
• The jurisdiction can be regarded a major market for capital-raising in the global context.
• The jurisdiction makes financial contributions to the setting of IFRSs on a continuing basis.
• The jurisdiction has in place and in operation a robust enforcement mechanism.
• The relevant national or regional standard-setting body actively contributes to the development of IFRSs.

At the meeting held on 11 April, the MB agreed on the following three procedures for expending the current membership and assessing the existing members:

Selection of new member candidates (with the exception of rotating members)

1. The Monitoring Board will issue a public call for nominations.
2. The Monitoring Board will complete the selection of new members in accordance with the Monitoring Board membership criteria.

Selection of new rotating members (to be selected in consultation with IOSCO)

1. The MB determines the selection procedure in consultation with IOSCO, and IOSCO will be asked to recommend candidates.
2. The Monitoring Board will complete the selection of rotating members in accordance with the Monitoring Board membership criteria.

Assessment process of existing members

1. All existing Monitoring Board members will be assessed in accordance with the Monitoring Board membership criteria.

The timetable for these procedures, which are to be conducted in parallel, is rather vague, however, the MB "anticipates completion of the process in 2013".

Please click for access to the press release on the Monitoring Board website.

The research papers are sourced from Accounting and Business Research, Accounting Education, Accounting in Europe, European Accounting Review, Social and Environmental Accountability Journal, Journal of Sustainable Finance & Investment, and Accounting History Review.

Among the articles are contributions by such distinguished researches as former IASB member Professor Mary Barth (Stanford Graduate School of Business), past IAAER president Professor Donna Street (Dayton University), and Professor Sidney Gray (University of Sydney Business School), mentor in the Deloitte IAAER Scholarship Programme.

Access to the collections of research papers is available through the links below (all links to Taylor & Francis Online). Please note that free access expires at the end of July 2013.

• International Financial Reporting Standards (20 papers)
• Sustainability in Accounting (13 papers)
• The Financial Crises (10 papers)
• Accounting Education (14 papers)

On IAS Plus, we offer a dedicated subpage on Research and education and a collection of research papers on financial reporting.