Call for nominations for Trustee positions - London, United Kingdom - The Economist
Description
IFRS Foundation call for nominations for Trustee positions commencing on 1 January 2025
The IFRS Foundation (Foundation) is a not-for-profit organisation created in 2001 to develop—in the public interest—high-quality, understandable, enforceable and globally accepted standards for general purpose financial reporting, and to promote and facilitate their adoption.
The IFRS Foundation Trustees oversee the Foundation and its two standard-setting boards: the International Accounting Standards Board (IASB), which sets IFRS Accounting Standards, and the International Sustainability Standards Board (ISSB), which sets IFRS Sustainability Disclosure Standards. The Trustees themselves are accountable to a Monitoring Board of capital market authorities.
The 22 Trustees are appointed from Africa, the Americas, Asia-Oceania, Europe and 'At Large' (any area of the world), and from varied professional backgrounds. They are responsible for governance and organisational strategy; for maintaining the Foundation's Constitution and the Due Process Handbook; for appointing members to the IASB, the ISSB, the IFRS Interpretations Committee and various advisory bodies; and for funding. Trustees also assume the role of company directors in accordance with the UK Overseas Companies Regulations 2009.
The Trustees are seeking two Trustees from the Asia-Oceania region, one from Africa and one from the At Large category. The appointments would commence on 1 January 2025 (or potentially earlier). All names received from the relevant regions will be given full and comprehensive consideration. The Trustees seek to achieve their objective of building a diverse and gender-balanced group.
Qualified candidates should have top-level experience in their organisation and an interest in corporate reporting. They should demonstrate a firm commitment to serving the public interest, to the work of the Foundation and to the IASB and the ISSB as high-quality global standard-setters. They should be financially knowledgeable and able to meet the time commitment, which includes, but is not limited to, at least three three-day meetings each year held in different locations around the world. Trustees are also assigned to Trustee committees that meet during the three-day meetings as well as on an ad hoc basis, via video calls. Trustees are expected to engage with stakeholders in the markets in their geographical region. Trustees should have an understanding of, and be sensitive to, the challenges associated with the adoption and application of high-quality global accounting and sustainability disclosure standards. They should also have knowledge of relevant current issues such as the effect of new technologies on corporate reporting and developments in investor and market demands. Given the recent creation of the ISSB, the Trustees would particularly welcome applications from candidates with a knowledge of and interest in sustainability-related disclosures and wider corporate reporting.
Current employees of organisations represented on the IFRS Foundation Monitoring Board are not eligible for consideration. The appointments will be for a period of three years. Terms may be renewed for three further years.
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