The International Accounting Standards Board (IASB) is an independent organization that establishes International Financial Reporting Standards (IFRS) accepted globally. The IASB consists of 14 members from different countries and backgrounds who meet publicly to develop high-quality, transparent accounting standards. It seeks to develop a single set of global standards in the public interest and operates independently without political influence through an established due process.

1. International
Accounting Standards
Board®

2. International
Accounting Standards
Board

3. The International Accounting Standards
Board, typically abbreviated IASB, is the
organization that establishes international
financial reporting standards or IFRS that are
accepted throughout the world. You can think
of the IASB as the international FASB that
creates accounting principles and standards
like GAAP on an international level.
is

4. The IASB consists of 14 members from
various countries with different backgrounds
in accounting, finance, and auditing. Each
time the members meet, the meeting is
broadcast live over a webcast, so the public
can see what where the future of
international accounting standards is
heading.

5. About the IASB
The International Accounting Standards Board
(IASB) is an independent, private-sector body that
develops and approves International Financial
Reporting Standards (IFRSs). The IASB operates
under the oversight of the IFRS Foundation. The
IASB was formed in 2001 to replace
the International Accounting Standards Committee
(IASC). A full history of the IASB and the IASC
going back to 1973 is available on the IASB
website.
Currently, the IASB has 14 members.

6. The IASB's Role
Under the IFRS Foundation Constitution, the IASB has
complete responsibility for all technical matters of the
IFRS Foundation including:
• Full discretion in developing and pursuing
its technical agenda, subject to certain consultation
requirements with the Trustees and the public
• The preparation and issuing of IFRSs (other than
Interpretations) and exposure drafts, following
the due process stipulated in the Constitution
• The approval and issuing of Interpretations
developed by the IFRS Interpretations Committee.

7. IASB - Objective
… is committed to developing, in the public
interest, a single set of high quality, global
accounting standards that require
transparent and comparable information in
financial statements …

8. Independent Standard Setting
 Private funded
 No political influence
 Independent board members
 All board meetings in public
 An elaborated due process

9. Constitutional Review
Major Issues
• Number/geographical spread of Trustees
• Trustee oversight of process
• Board composition
• Agenda setting
• Approval of standards

10. IASB Board requirements
Effective from 1 December 2016, IASB normally has
14 board members, of whom one is appointed as
Chair and one as Vice-Chair. IASB members are
appointed for an initial term of five years. Terms are
may be renewable once for a further term of three
years, with the possibility of renewal up to a maximum
of five years, in line with procedures developed by the
Trustees for such renewals, however, the terms may
not exceed 10 years in total length of service as a
member of the Board.

11. Geographical balance
To ensure a broad international diversity,
the constitution requires four members from
the Asia/Oceania region; four from Europe;
four from the Americas; one from Africa;
and one appointed from any area, subject
to maintaining overall geographical balance

12. Board member qualifications
The main qualification for membership is
professional competence and practical
experience. The group is required to represent
the best available combination of technical
expertise and diversity of international business
and market experience.

13. Staff at IASB
In addition to the 14 Board members
there are currently:
• 25 technical and education staff
• 23 operations, commercial, translation
and publications staff
- from 12 countries

14. Current IASB members
The table below summarizes the current
composition of the IASB.

15. Board member Term began Term ends* Region
Chairs
Hans Hoogervorst (Chair) July 2011 June 2021 'At large'
Sue Lloyd (Vice-Chair) January 2014 December 2023 'At large'
Members
Nick Anderson September 2017 August 2022* Europe
Martin Edelmann July 2012 June 2021 Europe
Tadeu Cendon July 2019 June 2024* Americas
Françoise Flores January 2017 December 2021* Europe
Jianqiao Lu August 2017 July 2022* Asia-Oceania
Gary Kabureck April 2013 June 2022 Americas
Darrel Scott October 2010 June 2020 Africa
Tom Scott April 2017 March 2022* Americas
Chungwoo Suh July 2012 June 2022 Asia-Oceania
Rika Suzuki July 2019 June 2024* Asia-Oceania
Ann Tarca July 2017 June 2022* Asia-Oceania
Mary Tokar January 2013 June 2022 Americas
* Indicates the person is eligible for reappointment