IASC Foundation launches 2008 Constitution Review
13 Apr 2008
The Trustees of the International Accounting Standards Committee Foundation, under which the IASB operates, have announced the process for the 2008 Constitution Review.
- Create a 'monitoring group' of representatives of official organisations, including securities regulators, that would approve Trustee appointments and review Trustee oversight activities
- Expand the IASB to 16 members from the present 14, and provide for geographical balance
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Timeline for the 2008 Constitution Review |
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April 2008 |
Publication of proposals concerning public accountability and IASB size/geographical diversity – the first track of the Constitutional Review. Comment period to end on 31 July. |
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April-August 2008 |
Trustees to meet interested parties to discuss proposals on the first track |
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September 2008 |
Constitution Committee to develop proposals to present to full Trustees, based upon analysis of comment letters and other input on the first track proposals. |
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October 2008 |
Trustees to conclude the first track of Constitution Review at their Beijing meeting. Changes to take effect for 1 January 2009. |
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October or November 2008 |
Trustees to publish a discussion document inviting views on other issues to be incorporated as part of the Constitutional Review – the second track of the Constitution Review. |
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October 2008-January 2009 |
Trustees to meet interested parties to discuss the second track of the Constitution Review. |
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February 2009 |
Trustees to develop list of issues and the Constitution Committee to develop proposals. |
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April 2009 |
Trustees to publish other constitutional proposals on issues identified. |
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April 2009-October 2009 |
Trustees to hold a series of meetings on proposals, possibly including public round-table discussions. |
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October-November 2009 |
Conclusion of the Constitutional Review. |