The trustees of the International Accounting Standards Committee (IASC) Foundation issued a discussion document, Review of the constitution: public accountability and the composition of the IASB — proposals for change.

The proposals include:

• the establishment of a formal link between the organisation and a monitoring group consisting of representatives of public authorities and international organisations with accountability to public authorities
• an increased membership of the International Accounting Standards Board (IASB) from 14 to 16 members, including the introduction of new guidelines on geographical diversity of the membership

CPA Australia will prepare its submission to the IASC Foundation.

Members are invited to email their comments on the discussion paper to: professionalstandards@cpaaustralia.com.au by Friday 12 September.

For further information visit the IASB website.