IFRS Foundation Trustees and Due Process Oversight Committee hold January 2019 meeting

  • IFRS Trustees meeting (blue) Image

06 Mar 2019

The IFRS Foundation Trustees and the Due Process Oversight Committee (DPOC) met in Kuala Lumpur on 30-31 January 2019.

Meeting activities included the following:

  • Executive session:
    • Report of the Executive Director — The Trustees received a report from the Executive Director Lee White on activities since the last meeting.
    • Strategy review — The Trustees discussed a global environment scan and considered the key strategic themes that now face the Foundation.
    • Governance issues — The Trustees reviewed and approved the business case for improvements to the Foundation’s business process and technology
    • Operations analysis — The Trustees received presentations on the work plan for the Asia-Oceania Office and on the Foundation’s People Strategy.
    • Future meetings — Trustees confirmed that their next meetings would be in Munich in June 2019, New York in October 2019, and Brussels in early 2020.
    • Committee reports — The Trustees discussed reports from the Audit and Finance Committee, the Human Capital Committee, the Nominating Committee, and the DPOC. (A report of the DPOC meeting is attached to the meeting summary.)
  • IASB Chairman’s report — The Chair of the IASB provided the Trustees with a general update on the IASB’s technical activities, especially on IFRS 17 and possible amendments to the standard, the IBOR reform, accounting for goodwill, and primary financial statements.
  • Meetings in Kuala Lumpur — The Trustees met with members of the Asian-Oceanian Standard Setters Group and also discussed the work of the IFRS Foundation Advisory Council with its chair Joanna Perry. They also held a stakeholder dinner which was co-hosted by the Malaysian Accounting Standards Board.

The full report on the IFRS Foundation trustees’ and DPOC meeting is available on the IASB’s website.

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