The IFRS Foundation Trustees held their first plenary meeting of the year in London last week (3–5 March 2026). Their discussions focused on three priorities: sustainable funding, succession planning and the development of the Foundation’s long-term strategy.
Funding
The Trustees reaffirmed the importance of diversified and sustainable funding to support the work of the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) in meeting investors’ need for financially material information to make informed investment and capital-allocation decisions.
Funding strategies are tailored to the boards’ stage and needs. For the IASB, the priority remains working with jurisdictions on adjusting contributions for inflation and broadening the contributor base to all jurisdictions using IFRS Accounting Standards. For the ISSB, the focus is on securing transition funding to bridge the gap between seed funding, some of which runs until the end of 2026, and a more sustainable funding model. The objective for the Foundation overall is to have a diverse funding model—maintaining separate funding for the two boards—where those using IFRS Standards contribute to their development and maintenance.
Later this month, the Foundation will publish its annual report and audited financial statements for the year ended 31 December 2025.
Succession
The Trustees also discussed near- and long-term succession matters for the Foundation. The Trustees’ Nominating Committee reported on progress to appoint a new IASB Chair to succeed Andreas Barckow when his term ends on 30 June 2026 and a new Managing Director to succeed Michel Madelain when his term ends later this year. Both changes are part of a planned transition.
Strategy
Developing the Foundation’s mid-to-long-term strategy is a central part of its two-year transformation programme, which began in late 2024. In progressing their discussions on the Foundation’s longer-term strategy, the Trustees also recognised the strong progress the IASB and the ISSB are making on delivering their work plans to continue meeting stakeholders’ expectations. The Trustees’ discussions focused on how best to position the Foundation for the future, including consideration of its long-term operating model. These discussions are informed by feedback from advisory bodies and engagement with stakeholders.
Other matters
The Trustees had an important and constructive engagement with the IFRS Foundation Monitoring Board, which consists of capital market authorities and fulfils a critical role in reinforcing the public oversight of the Foundation and the Trustees.
The Trustees also received updates from IASB Chair Andreas Barckow and ISSB Chair Emmanuel Faber on progress on the boards’ technical work plans and on adoption of ISSB Standards, and discussed appointments and plans for some of the boards’ advisory groups.
Access the papers for and recording of the Trustees’ Due Process Oversight Committee’s discussions, including on the Trustees’ project to revise the Due Process Handbook, which sets out the required steps in the standard-setting process. The revised Handbook will be published in 2026.
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IFRS Foundation strategy and governance
