Implementation of the Monitoring Board Governance Review

Date recorded:

Masa Kono, Monitoring Board chairman, reported on progress made in implementing the Monitoring Board’s Governance Review.  He reviewed various aspects of the Monitoring Board’s 1 March 2013 Press Release, noting that the ‘process of enlargement’ had begun, but that appointments were still a way off.

He noted that the Monitoring Board had (earlier that day) agreed changes to its Charter and proposed changes to the Memorandum of Understanding between the Monitoring Board and the IASB.  He reviewed these orally, but noted that the wording was subject to finalisation.  All of the changes to these documents were based on the positions agreed by the IFRS Foundation Trustees and the Monitoring Board in their respective Strategy and Governance reviews completed in 2012.  Once finalised, these documents would be in the public domain.

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