The IFRS Foundation is a not-for-profit, public interest organisation established to develop high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards—IFRS Standards—and to promote and facilitate their adoption. IFRS Standards are developed by two standard-setting boards, the International Accounting Standards Board (IASB) and the newly created International Sustainability Standards Board (ISSB). The IASB sets IFRS Accounting Standards and the ISSB sets IFRS Sustainability Disclosure Standards.
The IFRS Advisory Council provides broad strategic advice to the Trustees, the IASB and the ISSB, and can provide views that are supplemental to other consultative processes. The IFRS Advisory Council at present comprises 48 members from diverse geographical and functional backgrounds, appointed for renewable terms of three years.
The Trustees are seeking four new Advisory Council members to succeed members whose terms end on 31 December 2022. Additionally, the Trustees have agreed to a temporary expansion of the Advisory Council to reflect the recent creation of the ISSB and facilitate the Advisory Council’s transition to an expanded remit.
The Trustees are seeking nominations from organisations with knowledge and interest in international corporate reporting to support the IFRS Foundation’s work. These may include representatives from global, regional or local organisations. Whilst all types of organisations will be considered, the Trustees are particularly seeking interest from organisations involved in sustainability-related disclosures and wider corporate reporting, corporate governance organisations, private equity firms, technology firms and organisations representing small and medium-sized enterprises (SMEs).
It is expected that the nominated individual will be a senior person in their organisation, with skills and experience to advise on strategy and help shape the future of corporate reporting. While financial reporting knowledge is needed, we are not necessarily seeking candidates who are accountants or familiar with the detailed requirements of IFRS Standards. The Trustees will also consider applications from individuals.
The Trustees continue to work towards their objective of having an appropriate gender balance on the Advisory Council and across the Foundation and its advisory bodies. The selected members will add to the overall diversity of the Advisory Council.
In addition to the four new appointments, 15 members are up for reappointments. Reappointments are not guaranteed, and given the broadened remit of the Advisory Council following the establishment of the ISSB, member organisations whose individual representative is eligible to serve a second term will be considered alongside any new applications and/or nominations received.
The Advisory Council normally meets twice a year for a period of two days in London. Meetings are open to the public. Individuals appointed to the Advisory Council will be expected to participate actively in all meetings. Members of the Advisory Council serve on a voluntary, unpaid basis and are required to pay their own expenses.
Please indicate interest by sending a covering letter, letter of support from the organisation that is to be represented and curriculum vitae by 14 October 2022* to Michel Madelain, Chair of the Nominating Committee, by email to email@example.com.
*Nominations received after 14 October 2022 cannot be guaranteed consideration by the Trustees.