Summary of the July 2012 Trustees’ meeting

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02 Aug 2012

The IASB has posted to its website a summary of meeting of the Trustees of the IFRS Foundation that took place in Washington on 12 July 2012.

The Trustees of the IFRS Foundation, the body responsible for the governance and oversight of the International Accounting Standards Board (IASB), discussed the following topics:

  • Report of the Chairman of the IASB concerning the four main Memorandum of Understanding (MoU) and convergence projects as well as the progress the IASB was making in determining its future agenda.
  • Report of the Chairman of the IFRS Advisory Council on the issues discussed at the June 2012 meeting of the Council and the draft Due Process Handbook.
  • Report of the Chairman of the Due Process Oversight Committee on initial feedback received on the draft Due Process Handbook, which is being exposed for public comment, and on the comprehensive review of the IFRS for SMEs.
  • Update on the IFRS for SMEs
  • Regional outreach activity on whether and how to incorporate IFRSs into the US financial reporting regime.
  • Meeting with the IFRS Foundation Monitoring Board regarding the progress made in following up the recommendations of their respective reviews of the governance and strategy of the organisation.

Please click for the full summary on the IASB's website. The next meeting of the Trustees of the IFRS Foundation is scheduled for 12 October 2012.

You can also access the preliminary and unofficial notes taken by Deloitte observers for this meeting.

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