IFRS monitoring board reaffirms strong governance and oversight for global standards
At its latest meeting in London, the IFRS Foundation Monitoring Board reinforced its commitment to strong governance and oversight of global accounting and sustainability disclosure standards. Discussions focused on the work of the IFRS Foundation Trustees in overseeing both the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The board also underscored the importance of maintaining high-quality financial reporting and sustainability disclosures worldwide.
A key focus was the IASB’s progress, particularly its work on intangible assets and cash flow reporting—two areas highlighted in its Third Agenda Consultation. The upcoming Fourth Agenda Consultation will provide fresh stakeholder input on the board’s strategic direction. Meanwhile, the ISSB’s implementation and adoption efforts for IFRS S1 and S2 remain a priority, with an emphasis on ensuring comparability and interoperability of sustainability reporting across global markets.
Financial stability was another major topic. The board reiterated the need for a strong funding model to support the IASB and ISSB, ensuring they continue their high-quality standard-setting work. It also welcomed the IFRS Foundation’s ongoing governance improvements, including a proposed update to the Due Process Handbook. The multi-location model—designed to maintain market relevance with offices currently in London, Beijing, Frankfurt, Montreal, San Francisco and Tokyo—was reaffirmed as essential for global adoption.
In leadership news, Takashi Nagaoka was unanimously re-elected as Chair of the IFRS Foundation Monitoring Board, extending his term until April 2027. With IFRS S1 and S2 gaining traction worldwide, the board is doubling down on its mission to ensure high-quality reporting standards that serve investors, regulators and businesses alike.
Stay tuned for the IFRS Foundation Monitoring Board’s 2025–2026 Work Plan, which will be published soon.
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