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The Trustees’ responsibilities include, but are not limited to:

  • nominating Trustees for approval by the Monitoring Board, appointing Trustee members and members of the International Accounting Standards Board (IASB), the International Sustainability Standards Board (ISSB), the IFRS Interpretations Committee and the IFRS Advisory Council;
  • establishing and amending the operating procedures, consultative arrangements and due process for the IASB, the ISSB, the IFRS Interpretations Committee, the Advisory Council;
  • reviewing annually the strategy of the IFRS Foundation, the IASB and the ISSB, and assessing their effectiveness; and
  • ensure the financing of the IFRS Foundation and approve annually its budget.

In exercising their governance responsibilities, the Trustees may reconsider or amend the due process for the IASB and the ISSB or recommend, for example, improvements to the their outreach activities. In addition, the constitution requires the Trustees to undertake a formal, public review of the structure of the IFRS Foundation, its governance arrangements and its effectiveness in fulfilling the organisation’s objectives every five years.

The Trustees are accountable to a Monitoring Board of public authorities. The Trustees' reports to the Monitoring Board are available on the Trustees' meeting pages.