IASC Foundation amends Constitution to expand the practical experience of its Interpretations Committee

20 December 2007

To view the Constitutional changes to IFRIC, click here

To view the revised version of the Constitution, click here

The Trustees of the International Accounting Standards Committee (IASC) Foundation, the oversight body of the International Accounting Standards Board (IASB), today published amendments to the Foundation’s Constitution reflecting their wish that the membership of the International Financial Reporting Interpretations Committee (IFRIC) should have greater diversity of practical experience. The constitutional changes enlarge the IFRIC from 12 to 14 members and amend the quorum and voting requirements accordingly.

The publication of the amendments to the Constitution follows the Trustees’ approval of proposals that were published for public comment in April this year. The Trustees considered the comments that had been received at their meeting in New York on 30 October─1 November.

The IASC Foundation will initiate a search for two new IFRIC members shortly. Details will be posted on the IASC Foundation’s Website.

For press enquiries:

Mark Byatt, Director of Corporate Communications, Telephone: +44 (0)20 7246 6472; email: mbyatt@iasb.org

Sonja Horn, Communications Adviser, Telephone: +44 (0)20 7246 6463; email: shorn@iasb.org