The Trustees have released a summary of the conclusions reached:

• The IFRS Foundation will open an Asia-Oceania liaison office in Tokyo during 2012. The office is expected to open in the second half of 2012. While the IASB technical staff will remain based in London, the establishment of the Tokyo office will expand opportunities for direct contact between the IFRS Foundation and its stakeholders in the region.

• The Trustee Vice-Chairs will remain as acting co-Chairs while the search process for a new Chair of the Trustees proceeds. The Trustees confirmed that Tsuguoki (Aki) Fujinuma and Robert Glauber, Vice-Chairs of the Trustees, would continue to serve as acting co-Chairs of the Trustees in the absence of a permanent Chair.

• The Chair and Vice-Chairs of the IFRS Advisory Council were reappointed. The Trustees have sought to provide greater continuity in leadership of the Advisory Council by staggering the duration of the Chair and Vice-Chairs’ second terms.

• The Trustees reviewed the progress of the ongoing strategy review following the publication of a consultation document for public comment in November 2010. The Trustees noted the importance of coordinating the strategy review with the ongoing governance review being conducted by the IFRS Foundation Monitoring Board, and welcomed the similar sentiments expressed by the Monitoring Board.

• The Trustees received reports of the Due Process Oversight Committee and of the IASB Chairman.

Press release