The Monitoring Board has finished updating its charter and memorandum of understanding with the IFRS Foundation, as well as establishing its work plan for 2023/2024.
This information was found in a statement released by the International Organization of Securities Commissions Board.
The International Sustainability Standards Board’s initiative, is among the most recent advancements made by the IFRS Foundation, according to IOSCO, who also indicated that MB welcomed them.
The revisions to the MB’s charter and memorandum of understanding with the Trustees of the IFRS Foundation have been completed.
Chair of the IFRS Foundation Trustee Board, Erkki Liikanen, stated: “The Monitoring Board’s function is crucial to the efficient operation of the IFRS Foundation, and in recent years, it has been instrumental in the supervision of the Trustees and the creation of the ISSB.
“I applaud the Monitoring Board for completing this agreement in a timely manner and am looking forward to our continued collaboration.”
The Chair of the IFRS Foundation Monitoring Board, Takashi Nagaoka claimed that the amended Memorandum of Understanding “confirms the reviewing Board’s renewed commitment to guarantee the public accountability of the IFRS Foundation by regularly reviewing and reinforcing the public interest oversight function of the foundation.”
“We look forward to working with the Trustees to serve the public interest in the future,” he said.