The Trustees invite comments on proposals to amend Sections 8 and 10 of the IFRS Foundation Constitution to:
- extend the maximum total length of service of the Trustee Chair and the Vice-Chairs;
- allow for sufficient flexibility to appoint the Trustee Chair from amongst the Trustee number or to appoint from outside the Trustee body; and
- to clarify terms governing Trustee reappointments.
If approved, the changes would allow the Foundation to benefit from continuity in leadership and the valuable experience gained whilst in office. It would also allow for greater flexibility in the process of appointing the Chair of the Trustees. The proposed amendments are set out in detail below.
If approved, the Trustees propose that the amendments should be effective immediately.
This Exposure Draft is structured as follows:
- an introduction to and explanation of each proposed change to the Constitution.
- a table setting out the text of Sections 8 and 10 as they currently stand alongside versions marked up with the proposed amendments. Text that would be deleted is shown struck through and proposed new text is shown underlined and in bold.
Deadline for submitting comment letters: 21 September 2018.
All comment letters should be submitted via the online upload page. If you have any problems using this page, please contact us for help with the submittal process. Please refrain from sending comment letters to IASB or IFRS Foundation individuals. Board and staff members have access to all comment letters submitted via the online upload page. You must be an eIFRS Basic user to submit a comment letter and registration is free.
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 unless supported by a good reason, for example, commercial confidence.