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IFRS Foundation Trustees and Due Process Oversight Committee hold October 2019 meeting

  • IFRS Trustees meeting (blue) Image

07 Nov 2019

The IFRS Foundation Trustees and the Due Process Oversight Committee (DPOC) met in New York on 15–17 October 2019.

Meeting ac­tiv­i­ties included the following:

  • 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 non-financial reporting including sustainability reporting.
    • Gov­er­nance issues — The Trustees received a presentation on the annual Risk Review for the Foundation and discussed managing and mitigating risk.
    • Op­er­a­tions analysis — The Trustees received pre­sen­ta­tions on the work of the Foundation’s Legal and Compliance team.
    • Committee reports — The Trustees discussed reports from the Business Process and Technology Committee, the 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 IBOR reform, proposed amendments to IFRS 17, accounting for goodwill, and the 2020 agenda consultation.
  • External engagement — The Trustees met with Nicolas Veron and Curtis Ravenel. In addition, they held a stakeholder event with the CFA Institute on how financial reporting can remain relevant in a changing world. The event featured a keynote speech by Bob Pozen and a panel discussion between IASB Chair Hans Hoogervorst and FASB Chair Russell Golden.

For more information, see the press release, which also offers an article on the stakeholder event, and the full summary on the IFRS Foun­da­tion Trustees’ and DPOC meeting on the IASB’s website.

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