IASB - Constitution Proposals for Change

IASB - Consultation Paper of review of the Constitution, Proposals for Change.

International Accounting Standards Committee Foundation - Changes proposed by the Trustees. Comments to be received by 23 February, 2005

See report in pdf format.

The Trustees of the IASC Foundation initiated a review of its Constitution in November 2003. On the basis of the initial response received by February 2004, the Trustees’ Constitution Committee identified ten issues to be considered in the review.

In May 2004, the Constitution Committee developed possible approaches to the ten issues identified, and published An Update on the Constitution Review and Information regarding Public Hearings. The Committee emphasised that the possible approaches suggested were not final recommendations and were meant to stimulate further thoughts from interested organisations.

In June-October 2004 the Committee conducted four public hearings around the world to seek reactions from invited participants on the possible approaches. Sixty-four organisations attended the hearings or sent written submissions to the Committee.

In the light of the public hearings and written submissions, the Constitution Committee reached preliminary recommendations on the ten issues for presentation to the full Trustees for consideration. Those recommendations were posted on the IASC Foundation Website on 21 October 2004. At their meeting on 25 October 2004, the Trustees discussed the Committee’s recommendations, and agreed on proposals to be published for public comment. Those proposals are set out in this paper.

Those who wish to respond are asked to send their comments in writing for the Constitution Committee’s review, in time to arrive no later than 23 February 2005, to:

Erik Wong
Project Manager,
IASC Foundation
30 Cannon Street
London EC4M 6XH
United Kingdom
Email: ewong@iasb.org