Trustees set out next steps on Trustee Chair and their Strategy Review

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07 Jan 2011

The Trustees of the IFRS Foundation, the oversight body of the IASB, today announced steps to be taken following the death of the Chairman of the Trustees Tommaso Padoa-Schioppa in December 2010.

The next meeting of the Trustees in Tokyo will be chaired by the Trustee vice-chairs Tsuguoki Fujinuma and Robert Glauber. At the meeting the Trustees will discuss interim leadership of the Trustees and the process of identifying a permanent chair. In both respects the Trustees will co-operate closely with the Monitoring Board. The Trustees have also reaffirmed their commitment to maintaining the existing time line for the strategy review.

  • In February/March 2011, the Trustees will analyse public comments and meet the IASB and the IFRS Advisory Council before reaching final conclusions.
  • In April 2011, the Trustees will publish a report of the strategy review with a comment period to provide guidance on actions to be implemented.
  • In July 2011, the Trustees will agree on a set of actions to be implemented, following public consultation. The Trustees will seek to co-ordinate this effort with the Monitoring Board's review.
  • After July 2011, the Trustees will conduct required due process to adopt changes in the IFRS Foundation's Constitution, if appropriate.

Click for IFRS Foundation press release with next steps on Trustee chair and the strategy review (PDF 43k).

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