The Trustees of the IFRS Foundation, responsible for the oversight and governance of the International Accounting Standards Board, have issued narrow-scope amendments to the IFRS Foundation’s Constitution, adjusting the appointment terms forthe Trustee Chair and Vice-Chairs.
The Constitution sets out the objectives and governance arrangements of the IFRS Foundation and its standard-setting body, the International Accounting Standards Board.
The amendments to the Constitution set the maximum tenure of the Trustee Chair and Vice-Chairs to nine years, clarify that the Chair can be appointed either from among the Trustees or externally, and specify that the Vice-Chairs must be appointed from the Trustee ranks.
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