The Trustees of the IASC Foundation, the oversight body of the International Accounting Standards Board (IASB), announced on 29 January important amendments to the organisation's Constitution, as well as a summary of other agreements reached at the Trustees' meeting in New Delhi, India, on 15 and 16 January 2009.
Highlights:
- Significant enhancement to the organisation's public accountability by establishing a link to a Monitoring Board of public authorities
- IASB to be expanded from 14 to 16 members by 2012, with criteria added to ensure geographical diversity
- Enhanced liaison with investor groups
- Constitutional changes directly address G20 recommendations
- Free availability of core standards through the public website.
The full press release can be accessed by clicking here.