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Proposal to increase IFRIC to 14 members

  • IFRIC (International Financial Reporting Interpretations Committee) (blue) Image

03 Apr 2007

The International Accounting Standards Committee Foundation has proposed to increase the size of the International Financial Reporting Interpretations Committee (IFRIC) from 12 to 14 voting members.

From the comments received in the consultations on the IFRIC Due Process Handbook, the Trustees of the IASC Foundation concluded that the IFRIC would benefit from a greater diversity of members with practical experience in the application of International Financial Reporting Standards (IFRSs) and analysis of financial statements using IFRSs. This is particularly important in the light of the expanding adoption of IFRSs throughout the world. As the size of the IFRIC is prescribed by the IASC Foundation's Constitution, the proposed change must await an amendment to the Constitution. The Trustees therefore invite comments on the proposed amendment set out in a consultative document Proposal for Enlarging the International Financial Reporting Interpretations Committee (PDF 238k). Comments should be submitted in writing to be received by 31 July 2007. Click for Press Release (PDF 297k).

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