The Trustees of the International Accounting Standards Committee (IASC) Foundation and the International Accounting Standards Board (IASB) launched this week a programme to enhance investors’ participation in the development of International Financial Reporting Standards (IFRSs).
The programme builds on actions recently taken to help ensure the IASB meets the needs of the investor community. In January 2009 the Trustees reconstituted the Standards Advisory Council to include representatives from eight leading investor organisations and established a special subgroup of these members. In July 2009 the Trustees appointed Patrick Finnegan and Patricia McConnell, two analysts, to the IASB (joining Stephen Cooper). In January 2010 the Trustees changed the Constitution to identify investors as a target audience for financial information. Recently the IASB appointed Luci Wright to co-ordinate the IASB’s investor outreach programme.