The IFRS Foundation Trustees met in Montreal, Canada, from 9 to 11 June 2026 to progress key strategic priorities. They will continue their discussions virtually in July.
The Trustees are responsible for the Foundation’s strategy, as well as for the governance and oversight of the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). In fulfilling their role, the Trustees are guided by the Foundation’s mission; to ensure its Standards serve as a high-quality public good that brings transparency, accountability and efficiency to capital markets around the world.
The meeting was hosted at the Foundation’s Montreal office. Trustees met with Canadian stakeholders during the meeting and welcomed the renewal of financial support for the ISSB from the Government of Canada.
Key discussions included:
Leadership transitions
The selection processes for the next Managing Director (succeeding Michel Madelain) and the IASB Chair (succeeding Andreas Barckow) are in their final stages, and the appointees will be announced soon. IASB Vice-Chair Linda Mezon-Hutter will serve as Acting Chair of the IASB during the transition period between the conclusion of Mr Barckow’s term on 30 June 2026 and the new Chair being in place.
Funding strategy
The Trustees reviewed the Foundation’s funding strategy and welcomed progress on its delivery, including on updating and broadening IASB jurisdictional funding, renewing or replacing ISSB seed funding and further developing income in support of the ISSB’s activities. The strategy includes enhancing the articulation of the value proposition for funding contributors, emphasising the shared global benefits of funding the Foundation’s work and widening its funding base.
Governance
Following their decision in 2025 to reduce the size of the IASB and the ISSB, the Trustees are developing proposed targeted amendments to the Constitution. The proposals will be published for public consultation later this summer. The Trustees also advanced the development of a five-year strategic, financial and operational plan as part of the Foundation's transformation programme.
Global momentum
The Trustees reviewed international regulatory developments, noting the reliance by capital markets globally on IFRS Accounting Standards and the continued rise in the number of jurisdictions moving towards adoption or other use of the ISSB’s Standards, underscoring the demand for high-quality sustainability-related disclosures.
Standard-setting progress
The Trustees received updates from the Chairs of the IASB and the ISSB, and commended them for their continued progress, including the IASB’s issuance of IFRS 20 Regulatory Assets and Regulatory Liabilities.
In conjunction with the meeting, the Trustees met with the Chair of the IFRS Foundation Monitoring Board Toshiyuki Miyoshi, while the Executive Committee met with representatives of the Executive Committee of the US Financial Accounting Foundation.
Access the papers and recordings from the meeting of the Trustees’ Due Process Oversight Committee.
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IFRS Foundation strategy and governance
