We comment on the Trustees' strategy review

  • Deloitte Comment Letter Image

23 Feb 2011

Deloitte has submitted a comment letter on the IFRS Foundation Trustees' Public Consultation 'Status of Trustees' Strategy Review'.

We express the view that both the IFRS Foundation and the Monitoring Board should make an explicit statement in their governing documents that the primary purpose of general purpose financial reporting is to provide financial information about the reporting entity that is useful to capital market participants (i.e., existing and potential investors, lenders and other creditors) in making decisions about providing resources to the entity. Other users, including prudential regulators, may use general purpose financial reports, but those reports are not directed primarily to address their needs.

With respect to the governance of the IFRS Foundation, we support the three tier structure that is currently in place, but we would wish to see changes to both the Monitoring Board and the IFRS Foundation Trustees.

Click to download our comment letter on the IFRS Foundation Trustees' Public Consultation: Status of Trustees' Strategy Review (PDF 80k). All of our past comment letters are here.

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