On 18 August 2026 the Trustees of the IFRS Foundation published the Exposure Draft Proposed Targeted Amendments to the IFRS Foundation Constitution to operationalise their 2025 decision to gradually reduce the size of the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The amendments proposed in the Exposure Draft would provide an appropriate governance framework for the smaller boards, facilitating their effective functioning and giving stakeholders clarity about the smaller boards' governance arrangements.
The Exposure Draft addresses matters including:
- board size;
- attributes of board members;
- voting arrangements; and
- other related governance amendments.
The Trustees remain committed to maintaining geographically diverse and balanced board memberships and to ensuring appropriate diversity of professional backgrounds, skills and perspectives on the smaller boards.
The deadline for submitting comment letters is 16 November 2026.
How to respond to the Exposure Draft
Stakeholders can respond to the request for comment on the Exposure Draft by submitting:
- a survey (preferred); or
- a comment letter.
Submitting both a survey and comment letter is not necessary.
Responding by survey
The questions in the survey are identical to the questions in the Exposure Draft. The survey will improve the Trustees' capacity to review and comment on feedback, and will allow stakeholders to select the questions on which they are interested in commenting.
Stakeholders may, instead of responding to the survey, respond to the request for comment on the Exposure Draft by submitting a comment letter below.
Find out more about how to submit the most effective response to our consultation.
Note: Please ensure you upload your comment letter as an editable pdf (at least one file must be uploaded). We do not accept Word documents, which will fail to upload. Please also ensure there are no periods or other reserved characters in the file name because these will cause an error.
All comment letters will be on the public record and posted on our website unless the respondent requests confidentiality. Such requests will not normally be granted without a good reason—for example, commercial confidentiality. If you would like to request confidentiality, please contact us before submitting your letter.
Comment Letter