Trustees welcome EU decision to continue to contribute to the global funding of the IFRS Foundation

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19 Mar 2014

The Trustees of the IFRS Foundation have issued a press release welcoming last week's decision by the European Parliament to continue the EU co-financing of the International Financial Reporting Standards (IFRS) Foundation, the European Financial Reporting Advisory Group (EFRAG), and the Public Interest Oversight Board (PIOB).

The Parliament voted on a package that includes an annual contribution to the work of the IFRS Foundation of approximately 4.3 million euro. There were 474 votes in favour of continued co-financing and 28 against.

Michel Prada, Chairman of the Trustees, commented:

We will continue to work in close cooperation with the European Commission, to fully support its evaluation of Europe’s experience of IFRS and give consideration to any recommendations related to enhancements of the governance arrangements of the Foundation as part of our public consultation on the structure and effectiveness of the IFRS Foundation, due to begin in 2015.

Please click for access to the full press release on the IASB website.

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