About the IASB

The International Accounting Standards Board (IASB) is an independent, privately-funded accounting standard-setter based in London, UK. The Board members come from nine countries and have a variety of functional backgrounds.

The IASB is committed to developing, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require transparent and comparable information in general purpose financial statements.

In addition, the IASB co-operates with national accounting standard-setters to achieve convergence in accounting standards around the world.

There are 14 Board members, each with one vote. The Trustees appoint the Board members.

The IASC Foundation Constitution provides that the Trustees shall:

select members of the IASB so that it will comprise a group of people representing, within that group, the best available combination of technical skills and background experience of relevant international business and market conditions in order to contribute to the development of high quality, global accounting standards. [Paragraph 20]

As it develops International Financial Reporting Standards, the IASB follows a rigorous, open due process.