We comment on the proposed IFRS Foundation Constitution amendments
17 Sep, 2018
We have responded to the IFRS Foundation's exposure draft 'Amending the Terms of Appointment of the IFRS Foundation Trustee Chair and Vice-Chairs' that was published in June 2018.
Our comment letter notes our reservations about the exposure draft:
- We do not support the proposals; they would over-engineer the Constitution and probably limit rather than help the Trustees and Monitoring Board when making appointments.
- We do not support making a distinction between internal and external appointments.
- We would not wish to prevent the direct appointment of a Vice-Chair concurrently with that person's appointment as a Trustee.
- We continue to support the practice that a Trustee may serve two three-year terms, but can see that a third term of up to three years may be necessary for continuity. We do not support subsequent re-appointments to the IFRS Foundation.
Download the full comment letter here.