The IFRS Foundation is a not-for-profit, public interest organisation established to develop high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards.
Our Standards are developed by our two standard-setting boards, the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB).
IFRS Accounting Standards are developed by the International Accounting Standards Board (IASB). The IASB is an independent standard-setting body within the IFRS Foundation.
IFRS Accounting Standards are, in effect, a global accounting language—companies in more than 140 jurisdictions are required to use them when reporting on their financial health. The IASB is supported by technical staff and a range of advisory bodies.
IFRS Sustainability Disclosure Standards are developed by the International Sustainability Standards Board (ISSB). The ISSB is an independent standard-setting body within the IFRS Foundation.
IFRS Sustainability Standards are developed to enhance investor-company dialogue so that investors receive decision-useful, globally comparable sustainability-related disclosures that meet their information needs. The ISSB is supported by technical staff and a range of advisory bodies.
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The Trustees of the IFRS Foundation, who are responsible for the governance and oversight of the International Accounting Standards Board (the Board), have announced that four existing Board members have been reappointed to serve a second term.
Martin Edelmann, Gary Kabureck, Chungwoo Suh and Mary Tokar have all been reappointed to serve a second term on the Board. Their new terms commence 1 July 2017.
The IFRS Foundation Constitution sets out the terms and conditions for Board members’ appointments and states that Board members can serve only two terms, lasting no longer than 10 years in total.
Michel Prada, Chair of the Trustees, said:
I am grateful that Martin, Gary, Chungwoo and Mary will continue serving the International Accounting Standards Board.
In addition to the four reappointments, Darrel Scott’s term has been extended by a further two years until 30 September 2020, bringing his tenure to the maximum 10 years.
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