On March 4-5, 2026, the IFRS Foundation Monitoring Board (Monitoring Board) held its meeting in London. The Monitoring Board discussed the activities of the Trustees of the IFRS Foundation (Trustees), including the Trustees’ oversight responsibilities with respect to the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The Monitoring Board also held a joint meeting with the members of the Trustees under the leadership of Erkki Liikanen, Chair of the Trustees, as well as Andreas Barckow, Chair of the IASB, and Emmanuel Faber, Chair of the ISSB.
Strengthening governance and ensuring high-quality standard-setting
The Monitoring Board reaffirmed its commitment to ensuring the quality and independence of the IFRS Foundation (Foundation)’s standard-setting activities at a time when the Foundation continues to implement its multi‑year transformation programme, as well as the need to maintain proper balance in geographical representation and skillsets among board members and staff. The Monitoring Board also underscored the importance of a stable and broad-based funding model. Members also discussed potential approaches to enhancing the governance and oversight model of the IFRS Foundation and certain other elements of the financial reporting ecosystem, and will continue that discussion at future meetings.
Additionally, recognizing the importance of sound governance, the Monitoring Board welcomed progress toward finalizing the revised Due Process Handbook. This initiative is expected to reinforce the due process requirements applicable to both standard-setting boards. The Monitoring Board will continue to monitor the Trustees’ oversight to ensure that the boards adhere to rigorous due process and maintain robust governance standards.
Standard-setting developments and multi-location model1
The Monitoring Board took note of the IFRS Foundation’s recent standard-setting activities, and reaffirmed the importance of having proper strategic priorities and communicating with key stakeholders on standard setting activities. The Monitoring Board also discussed the Foundation’s multi-location model, emphasizing the importance of ensuring operational efficiency and alignment with the Foundation’s strategic priorities.
Statement from the Monitoring Board Chair
Toshiyuki Miyoshi, Chair of the IFRS Foundation Monitoring Board and Vice Minister for International Affairs of Financial Services Agency, Japan, stated:
“It was a privilege to chair this Monitoring Board meeting and co-chair a joint meeting with the Chair of the IFRS Foundation Trustees for the first time. At this pivotal stage of the Foundation’s transformation programme, continued dialogue between the Trustees and Monitoring Board members is essential to strengthening good governance, improving the Foundation’s funding, and supporting the development of high‑quality international standards for capital markets worldwide.”
About the IFRS Foundation Monitoring Board
The Monitoring Board was created in 2009 with the aim of monitoring and reinforcing the public interest oversight function of the IFRS Foundation, whose Trustees exercise oversight over the IASB (International Accounting Standards Board) and the ISSB (International Sustainability Standards Board).
The members of the Monitoring Board are the Board of the International Organization of Securities Commissions (IOSCO), the IOSCO Growth and Emerging Markets Committee, the Financial Services Agency of Japan, the European Commission, the U.S. Securities and Exchange Commission, the Comissão de Valores Mobiliários of Brazil, the Financial Services Commission of Korea, the Ministry of Finance of the People’s Republic of China and the Financial Conduct Authority of the United Kingdom.
The Basel Committee on Banking Supervision and the IOSCO Inter-American Regional Committee, are observers.
Through the Monitoring Board, interaction with the IFRS Foundation has facilitated the ability of capital markets authorities, who are responsible for setting the form and content of financial reporting in their respective jurisdictions, to carry out their mandates regarding investor protection, market integrity and capital formation.
- The IFRS Foundation has a multi-location footprint with offices in London, Beijing, Frankfurt, Montreal, San Francisco and Tokyo.
