PwC Comments on IFRS Foundation Trustees' Review of Strategy
PwC comment letter (IASB)
PwC global network notes the potential for overlap between the Trustees' strategy review and the Monitoring Board's review of governance, while applauding recent announcements around enhanced coordination of the two reviews.
Overall, the PwC network continues to support the existing three-tier structure (Trustees, Monitoring Board, and the IASB), but suggests greater clarity in the roles and responsibilities of the Monitoring Board and the Trustees. The PwC network also emphasizes that the organization’s structure needs to be scalable to meet the growing need for interpretation and application guidance with the continued adoption of IFRS throughout the world and the high volume of new standards expected in the next year.
See the comment letter for further information on the PwC network’s views on the organization’s mission, governance, process, and financing.