The Monitoring Board and the Trustees of the IFRS Foundation jointly announced the conclusions of their separate reviews of the governance and strategy of the IFRS Foundation.
The reviews build upon the achievements of the last 11 years, during which International Financial Reporting Standards (IFRSs) have become the internationally accepted language of financial reporting, required or permitted for use by companies in more than 100 countries. Together, the reviews propose a clear strategy and sound governance platform on which the IFRS Foundation and the International Accounting Standards Board (IASB) can continue to work towards their goal of becoming the global accounting standard-setter.