IFRS Foundation appoints three new Trustees Sarah J. Al Suhaimi, Dr Suresh P. Kana and Kazuyuki Masu have been appointed as new Trustees of the IFRS Foundation with effect from 1 January 2019. They are accountable to a monitoring board of public authorities, the IFRS Foundation Monitoring Board. On 30 September 2020, the Trustees of the IFRS Foundation published a consultation paper on Sustainability Reporting (‘the paper’). The new board could operate alongside the International Accounting Standards Board under the same three-tier governance structure, build on existing developments and collaborate with other bodies and initiatives in sustainability, focusing initially on climate-related matters. Question 1 The IASB’s current remit is appropriate; it should not be extended for private non-profit sectors. The IFRS Advisory Council is the formal advisory body to the IASB and the Trustees of the IFRS Foundation. At the IFRS Foundation, the Trustees review the strategy every five years. One reason is that IFRS Standards, developed by the Foundation’s standard-setting body, the International Accounting Standards Board, are required for use in more than 140 countries. The International Financial Reporting Standards Foundation is a not-for-profit corporation incorporated in the State of Delaware, United States of America, with the Delaware Division of Companies (file no: 3353113), and is registered as an overseas company in England and Wales (reg no: FC023235). 25 May 2017. Erkki Liikanen, chair of the IFRS Foundation Trustees, said the consultation was being launched because “calls for standardisation and comparability of reporting on sustainability and climate-change issues continue to grow as these matters become increasingly important to … The IFRS Foundation was established to develop a single set of globally accepted accounting standards. The trustees' responsibilities include appointing members to and establishing the operating procedures of the IASB, Interpretations Committee and Advisory Council, and approving the Foundation's budget. Our CA qualification is internationally recognised and respected. Invalid characters in 'Your Query' field. Any changes to the Foundation’s remit would be subject to further public consultation. Accessibility   |   Privacy   |   Terms and Conditions   |   Trade mark guidelines   |   All legal information   |   Using our website. EFRAG Response. • The Consultation Paper is part of the Trustees’ consultation process on the Foundation’s strategy. You can view which cookies are used by viewing the details in our privacy policy. The International Association of Insurance Supervisors (IAIS) has released a statement in support of the establishment of a Sustainability Standards Board as described in the IFRS Foundation Trustee’s Consultation Paper on Sustainability Reporting. Please remove any invalid characters ('', '+', '|'), links or URLs (e.g www.ifrs.org, http://www.ifrs.org) from the 'Your query' field and re-submit. Accessibility   |   Privacy   |   Terms and Conditions   |   Trade mark guidelines   |   All legal information   |   Using our website. We therefore seek to assess whether there is demand for global sustainability standards and whether the IFRS Foundation should play a role in developing such standards. © IFRS Foundation 2017. The Trustees are seeking input on 11 questions with comments due by 31 December 2020. IFRS Foundation Trustee Michel Madelain, Executive Director Lee White and IFRS Foundation staff will address questions and comments from the audience. One possible option outlined in the paper is for the Foundation to establish a new sustainability standards board. Trustees of the IFRS Foundation Columbus Building 7 Westferry Circus Canary Wharf, London E14 4HD UNITED KINGDOM 22 December 2020 Dear Erkki, IFRS Foundation Consultation Paper on Sustainability Reporting The Australian Financial Reporting Council (FRC), Australian Accounting Standards Board (AASB) and Trustees of the IFRS Foundation 30 Cannon Street London EC4M 6XH UNITED KINGDOM Dear Trustees Request for Views IFRS Trustees' Review of Structure and Effectiveness: Issues for the Review The Asian-Oceanian Standard-Setters Group (AOSSG) is pleased to respond to the IFRS Trustees' Request for Views. The IFRS Foundation's logo and the IFRS for SMEs® logo, the IASB® logo, the ‘Hexagon Device’, eIFRS®, IAS®, IASB®, IFRIC®, IFRS®, IFRS for SMEs®, IFRS Foundation®, International Accounting Standards®, International Financial Reporting Standards®, NIIF® and SIC® are registered trade marks of the IFRS Foundation, further details of which are available from the IFRS Foundation on request. It expresses support for the IFRS Foundation Trustees leading the conversation and work in this area. Global Risk Institute in Financial Services is a member services organization founded by the public and private sectors in Canada. The IFRS Foundation's logo and the IFRS for SMEs® logo, the IASB® logo, the ‘Hexagon Device’, eIFRS®, IAS®, IASB®, IFRIC®, IFRS®, IFRS for SMEs®, IFRS Foundation®, International Accounting Standards®, International Financial Reporting Standards®, NIIF® and SIC® are registered trade marks of the IFRS Foundation, further details of which are available from the IFRS Foundation on request. The Trustees are responsible for the strategic direction and governance of the Foundation as well as for oversight of the International Accounting Standards Board, which sets IFRS Standards. The IFRS Foundation Trustees are responsible for the governance, oversight and strategy of the Foundation and the International Accounting Standards Board (IASB). The consultation is open for comment until 31 December 2020. Dear IFRS Foundation Trustees, The Financial Stability Board (FSB) welcomes the opportunity to comment on the IFRS Foundation’s Consultation Paper on Sustainability Reporting. Session expired, please refresh your browser. IFRS Foundation consultation on sustainability reporting: FCA response We welcome the consultation paper published by the Trustees of the International Financial Reporting Standards (IFRS) Foundation, exploring the potential role the IFRS Foundation could play in sustainability reporting. The Consultation Paper sets out critical success factors for the creation of a new board, including achieving sufficient support from public authorities and market participants; working with regional initiatives to achieve global consistency and reduce complexity in the reporting landscape; achieving the appropriate level of funding; and ensuring the current mission of the IFRS Foundation is not compromised. Last week, under the initiative and leadership of Carol Adams, Professors of Accounting conducting research in the field of sustainability accounting and reporting and Editors of accounting journals that publish this research wrote to the Chair of the IFRS Foundation Trustees in light of the IFRS Foundation’s Consultation Paper on Sustainability Reporting. The Trustees of the IFRS Foundation have published a Consultation Paper to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards. Japan’s Financial Accounting Standards Foundation and IFRS Foundation Trustees reaffirm shared commitment to global standards. Response to IFRS Foundation Request for Views: Trustees’ Review of Structure and Effectiveness: Issues for the Review . You can sign up to receive email alerts about any developments in this project by clicking the ‘Follow’ button on the project page (you must be registered with eIFRS—registration is free). The IFRS Foundation has appointed three Trustees and re-appointed seven, effective 1 January 2021. To: Erkki Liikanen, Chair, IFRS Foundation Trustees. The IFRS Foundation Trustees are responsible for the governance, oversight and strategy of the Foundation and the International Accounting Standards Board, which sets IFRS Standards. We are a professional body for over We fully support the IASB’s work on financial reporting requirements for … Publication: Use of IFRS Standards around the world [PDF], How the IFRS Interpretations Committee helps support consistent application, Supporting materials for the IFRS for SMEs Standard, IFRS Foundation Trustees consult on global approach to sustainability reporting. • To view the outline of … Title Start Date End Date; October 2020 IFRS Foundation Trustees meeting: 13 Oct 2020: 15 … The Trustees have provisionally chosen to further the development of a Sustainability Standards Board (‘SSB’). In conjunction with the meeting of the IFRS Foundation’s Trustees in Tokyo, Japan, the IFRS Foundation Trustees and Japan’s Financial Accounting Standards Foundation (FASF) have today issued a joint statement. The Trustees of the IFRS Foundation published in July 2015 a request for views on their latest review of the structure and effectiveness of the IFRS Foundation, This request for views incorporates specific questions on the role of technology and the IFRS Taxonomy. Colette Bowe, Teresa Ko, Larry Leva, Michel Madelain, Ross McInnes, Vinod Rai and Lucrezia Reichlin have all been re-appointed for a second three-year term, effective 1 January 2021. We, the undersigned, welcome the consultation paper published by the Trustees of the International Financial Reporting Standards (IFRS) Foundation on 30 September 2020, which seeks to … The Consultation Paper sets out possible ways the Foundation might contribute to the development of global sustainability standards … Publication: Use of IFRS Standards around the world [PDF], How the IFRS Interpretations Committee helps support consistent application, Supporting materials for the IFRS for SMEs Standard. The Trustees of the IFRS Foundation have published a Consultation Paper to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards. GRI comments on the Trustees' sustainability consultation; 15 Dec 2020 The IFRS Foundation is seeking four Trustees: two from the Americas, one from the At Large category and one from Europe for vacancies that will become available in January 2021. The Trustees are required to consult on the Foundation’s strategy every five years and this Consultation Paper, based on work by a smaller Trustee Task Force, feeds into their current assessment of future strategy. They replace Dr Abdulrahman Al-Humaid, Joji Okada and Wiseman Nkuhlu, whose second terms as Trustees expire 31 December 2018. The consultation paper also considers the Foundation’s role in the development of sustainability standards. The Trustees of the IFRS Foundation are considering how they may support global sustainability reporting initiatives. © IFRS Foundation 2017. About the Trustees of the IFRS Foundation (Trustees) The Trustees are responsible for the governance and oversight of the IFRS Foundation and the International Accounting Standards Board (Board). Webinars discussing the Consultation Paper will be scheduled during the consultation period—further information will become available on the project page. The International Financial Reporting Standards Foundation is a not-for-profit corporation incorporated in the State of Delaware, United States of America, with the Delaware Division of Companies (file no: 3353113), and is registered as an overseas company in England and Wales (reg no: FC023235). Their appointments will begin on 1 January 2021 and will expire on 31 December 2023. The Trustees are not involved in any technical matters relating to IFRS Standards. Please complete the CAPTCHA field to verify you are human. To: Erkki Liikanen, Chair, IFRS Foundation Trustees From: Professors of Accounting conducting research in the field of sustainability accounting and reporting and Editors of accounting journals that publish this research Date: 15th October 2020 Open Letter regarding the IFRS Foundation’s Consultation Paper on Sustainability Reporting L'IFRS Foundation est composée de 22 membres appelés "Trustees" qui ont pour fonction d'assurer la direction de l'IASB ainsi que des entités qui lui sont associées (notamment l' IFRS Advisory Council et l' IFRS Interpretations Committee). For the convenience of prospective participants in different time zones, there will be two sessions of the webinar on Tuesday 17 November 2020. This website uses cookies. The . The IFRS Trustees of the IFRS Foundation published a consultation paper on the need for global sustainability standards. In this publication, we discuss these areas in more detail. Erkki Liikanen, Chair of the IFRS Foundation Trustees, said: Calls for standardisation and comparability of reporting on sustainability and climate-change issues continue to grow as these matters become increasingly important to capital markets. Date: 15 th October 2020 . The session will be moderated by EAA President Thorsten Sellhorn. This website uses cookies. The Consultation Paper sets out possible ways the Foundation might contribute to the development of global sustainability standards by broadening its current remit beyond the development of financial reporting standards and using its experience in international standard-setting, its well-established and supported standard-setting processes and its governance structure. The IFRS Foundation Trustees invite interested stakeholders to join them for a live webinar on their Consultation Paper on Sustainability Reporting. To the Trustees of the IFRS Foundation, Thank you for the opportunity to comment on the consultation paper regarding sustainability reporting and the role of IFRS. Session expired, please refresh your browser. What you need to know • On 30 September 2020, the Trustees of the IFRS Foundation published a Consultation Paper on the need for global sustainability standards and the Foundation’s role in their development. You can view which cookies are used by viewing the details in our privacy policy. IFRS Developments . The IFRS Foundation has announced the appointment of Robert Pozen, Kenneth Robinson, and Erhard Schipporeit as Trustees of the IFRS Foundation. Composition de l'IFRS Foundation. The IFRS Foundation was established to develop a single set of globally accepted accounting standards. These include investors, financial analysts and other users of financial Open Letter regarding the IFRS Foundation’s Consultation Paper on Sustainability Reporting From: Professors of Accounting conducting research in the field of sustainability accounting and reporting and Editors of accounting journals that publish this research. We would appreciate if the IFRS Foundation Trustees could also be held in public, to the extent possible. An error has occurred, please try again later. Some have argued that the IFRS Foundation should play a role in this area. 2 INTRODUCTION ICAS welcomes the opportunity to comment on the IFRS Foundation’s Request for Views. Monitoring Board and IFRS Foundation Trustees Meeting (Transcript of Public Meeting) Date: 12 July, 2012 Venue: Washington D.C. Note: This is a verbatim transcript and … Amid heightened focus on environmental, social and governance (ESG) matters, developments in sustainability reporting and increased calls for standardisation of such reporting, the Trustees are now seeking stakeholder input on the need for global sustainability standards and gauging support for the Foundation to play a role in the development of such standards. The Trustees of the IFRS Foundation have published a Consultation Paper to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards. On 8 May 2012 the Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), published for comment an updated version of the IFRS Foundation Due Process Handbook with a 120-day comment period. This responsibility rests solely with the Board. This posting can also be viewed here on our appointments page. It is the organisation behind IFRS Standards—financial reporting standards required for use by more than 140 jurisdictions. Please complete the CAPTCHA field to verify you are human. Head office: Columbus Building, 7 Westferry Circus, Canary Wharf, London E14 4HD, UK. IFRS Foundation Trustees consult on global approach to sustainability reporting and on possible Foundation role The Trustees of the IFRS Foundation have published a Consultation Paper to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards. An error has occurred, please try again later. Head office: Columbus Building, 7 Westferry Circus, Canary Wharf, London E14 4HD, UK. Stakeholders’ comments are due by 31 December 2020. IFRS Foundation appoints three new Trustees; 16 Dec 2020. 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