IFRS Foundation Trustees and Due Process Oversight Committee hold June 2019 meeting
01 Aug, 2019
The IFRS Foundation Trustees and the Due Process Oversight Committee (DPOC) held meetings in Munich on 24-26 June 2019.
Meeting activities included the following:
Trustees’ meeting
- Executive session:
- Report of the Executive Director — The Trustees received a report from the Executive Director Lee White on activities since the last meeting.
- Strategy review — The Trustees discussed key challenges for the Foundation, the support for consistent application of IFRS Standards, timeliness, and sustainability reporting.
- Governance issues — The Trustees viewed a presentation from the IFRS Foundation Advisory Council and discussed its role in providing strategic advice.
- Operations analysis — The Trustees received a presentation on managing the Foundation’s brand.
- Future meetings — Trustees confirmed that their next meetings would be in Brussels in February 2020, Seoul in June 2020, and New Delhi in October 2020.
- Committee reports — The Trustees discussed reports from the Business Process and Technology Committee, Audit and Finance Committee, the Human Capital Committee, the Nominating Committee, and the DPOC. (A report of the DPOC meeting is attached to the meeting summary.)
- IASB Chairman’s report — The Chair of the IASB provided the Trustees with a general update on the IASB’s technical activities, especially on the proposed amendments to IFRS 17, the IBOR reform, simplification of accounting for goodwill, and management commentary.
- Meetings in Munich — The Trustees met with members of German accounting standard setter (the DRSC).
The full report on the IFRS Foundation trustees’ and DPOC meeting is available on the IASB’s website.