The Trustees are responsible for the governance and oversight of the IFRS Foundation and the International Accounting Standards Board (Board).
The Trustees are not involved in any technical matters relating to IFRS Standards. This responsibility rests solely with the Board. The Trustees are accountable to the Monitoring Board, a body of publicly accountable market authorities.
Trustees are appointed for a renewable term of three years. Amendments to the term of the Trustee Chair and Vice-Chair were made in October 2018—for full details please see Constitution.
Each Trustee is expected to have an understanding of, and be sensitive to, international issues relevant to the success of an international organisation responsible for the development of high quality global accounting standards for use in the world's capital markets and by other users.
The current Chair of the IFRS Foundation Trustees, Erkki Liikanen, began his term on 1 October 2018.
In September 2020 the Trustees published a consultation paper, asking whether there is demand for global sustainability standards and, if so, whether there is support for the Foundation to contribute to their development. The consultation, which feeds into the Trustees five-yearly strategy review, is open for comments until 31 December 2020.