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Trustee appointments are made with the approval of the Monitoring Board.

Process for appointments

  • Each year the appointments process developed by the Trustees’ Nominating Committee is approved by the Trustees and sent to the Monitoring Board for its approval.
  • The Trustees advertise any Trustee position(s) that become available on the IFRS Foundation website and in The Economist. The nomination process is open for at least four weeks.
  • The Chair of the Trustees' Nominating Committee writes to stakeholder groups— including the Monitoring Board, current and former Trustees—to seek nominations.
  • The Nominating Committee reviews the candidate names and, taking into account the Conflict of Interests Policy, develops a shortlist which is subsequently agreed on by the full Trustee group.
  • The Nominating Committee Chair and at least two Nominating Committee members meet the shortlisted candidates.
  • Following the candidate meeting, the Nominating Committee meets to discuss and agree on candidates to be recommended to the full Trustee group for appointment to the Trustees.
  • Assuming the recommended candidates remain interested, each candidate is sent a consent form and asked to complete and sign a register of interests prior to extensive due diligence checks that are undertaken by a specialist third-party organisation.
  • Once the checks have been completed, the due diligence material is reviewed by the Nominating Committee Chair, one other Nominating Committee member and IFRS Foundation executives. The material is then reviewed by the rest of the Nominating Committee and sent to the full Trustee group.
  • Assuming the due diligence checks do not highlight matters that would prevent an appointment, approval to proceed is sought from the Nominating Committee and then all Trustees.
  • The Trustees send their recommended appointments to the Monitoring Board for its approval.
  • The Monitoring Board considers the appointments following its own approval process which includes a telephone/video interview.

Process for reappointments

  • Trustees eligible to serve a second term are asked whether they wish to be considered for reappointment.
  • If a Trustee confirms interest in serving a second term, the Nominating Committee Chair meets the Trustee to discuss that person’s contribution to the Trustees’ work to date and expectations for any second term. In considering a Trustee’s reappointment, the Nominating Committee considers the feedback from the Nominating Committee Chair’s discussion with the Trustee as well as from the Chairs of the Trustee Committees on which the Trustee serves. The Trustee’s application is considered alongside the Committee's consideration of other candidates as set out above.
  • Due diligence checks are followed as set out above although these are limited to the period of the Trustee’s first term, that is, the previous three years.
  • The Trustees send their recommended reappointments to the Monitoring Board for its approval.
  • The Monitoring Board considers the reappointments following its own approval process.

Further information

When considering potential candidates for At Large vacancies, the Trustees consider the criteria published in the November 2016 Feedback Statement: Trustees’ Review of Structure and Effectiveness: Amendments to the IFRS Foundation Constitution:

  • individuals with global experience who do not fit easily into any one geographical category;
  • individuals from emerging economies;
  • individuals from countries that do not fit easily into any one geographical category; or
  • individuals from one of the specific geographical regions referred to in the Constitution, but who, in the opinion of the Trustees, are assessed as having exceptional skills and experience that would be of benefit to the Trustees as a whole.