The proposals would establish a link between the organisation and a Monitoring Group comprising representatives of public authorities and international organisations. Trustees also propose expanding the IASB to 16 members.
The IASB oversight body meeting in June focused on the review of the IASC Foundation's Constitution. The proposals would establish a link between the organisation and a Monitoring Group comprising representatives of public authorities and international organisations that have requirements for accountability to public authorities.
The establishment of this link would create a formal reporting mechanism from the IASC Foundation Trustees to public authorities and is aimed at enhancing the transparency and public accountability of the IASC Foundation, while not impairing the independence of the standard-setting process.
The Trustees are also proposing the expansion of the IASB to 16 members and new guidelines regarding the geographical diversity of the members of the IASB.
Deadline for comments on the constitutional proposals is set as 20 September 2008.
Press release
© IASB - International Accounting Standards Board
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