IASB Trustees propose revisions to Constitution

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02 Dec 2001

The Trustees of the IASC Foundation, which oversees the IASB, have proposed revisions to the IASC Constitution that are necessary to implement certain aspects of the draft Preface to IFRS relating to the Standing Interpretations Committee.

The constitutional changes include:
  • Changing the committee's name to International Financial Reporting Issues Committee (IFRIC).
  • Broadening the committee's mandate so it can address issues not specifically covered in an existing IFRS.
  • Creating the position of a non-voting chair of IFRIC, that position to be filled by one of the members of the IASB, the Director of Technical Activities, or a member of the IASB's senior technical staff. Click here for the Full Constitution. Comments are requested by 15 February 2002. Comments on the draft Preface are also due on this date. [Note: link to 'Full Constitution' now reflects the revisions as of 1 July 2005.]

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.