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Trustees seek views on a broad range of constitutional issues

08 December 2008


The Trustees of the International Accounting Standards Committee (IASC) Foundation, the body that oversees the International Accounting Standards Board (IASB), today published for public comment a discussion document on the second part of the five-yearly review of the IASC Foundation’s Constitution.

The purpose of the discussion document is to seek comment on the full range of constitutional issues that were not addressed in the first part of the review, such as the possible need for emergency due process procedures, funding arrangements and the IASB’s agenda-setting procedures.

While not limiting comment to any particular issue, the Trustees would especially welcome responses on the issues set out in the discussion document. Comments and suggestions should be sent to arrive by 31 March 2009. The Trustees expect then to continue their consultations in a series of round-table meetings to encourage further debate and comment from stakeholders around the world.

The Trustees plan to conclude the second part of the review at their meeting in October 2009 in accordance with the timetable published on the Website. The amendments to the Constitution would take effect on or after 1 January 2010.

Commenting on the publication of the discussion document, Gerrit Zalm, Chairman of the Trustees of the IASC Foundation, said:

As planned, we are publishing this discussion document to generate broad discussion about the IASC Foundation.  Shortly we shall conclude the first part of the review by establishing a formal link between the Trustees and public authorities. The creation of that link will enhance the public accountability of the IASC Foundation. The expansion of the IASB to 16 members and the extended geographical spread of its membership, introduced by the first part of the review, address conclusions expressed by the G20 countries at their meeting in October.

The discussion document Review of the Constitution: Identifying issues for Part 2 of the Review can be viewed on this Website. 

Printed copies (ISBN 978-1-905590-91-9) will be available shortly upon application to:


IASC Foundation Publications Department,
30 Cannon Street, London EC4M 6XH, United Kingdom.

Tel: +44 (0)20 7332 2730
Fax +44 (0)20 7332 2749
Email: publications@iasb.org

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