FEE has responded to the public consultation of the Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), periodic review of the organisation.
In the response, FEE emphasised its continued support for IFRSs as the robust, complete and broadly accepted set of global financial reporting standards to enhance Europe’s access to global markets.
Instead of further widening its scope, FEE recommends the IASB to focus on improving the quality of standards it issues, to reduce the need for amending these later on. FEE also encourages the IASB to take a more active role in driving the broader corporate reporting agenda, which includes non-financial reporting. FEE thus invites the IASB to join the debate on the ideas it has put forward in the recent Cogito Paper the Future of Corporate Reporting – creating the dynamics for change.
Comment Letter on the IFRS Foundation Trustees’ review of Structure and Effectiveness: Issues for the Review
IFRS Foundation Request for views document
IFRS Foundation Trustees’s completed review of Structure and Effectiveness