PwC Comments on the IFRS Foundation Trustees' Strategy Review

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The PwC global network of firms submitted a comment letter on the IFRS Foundation Trustees' preliminary conclusions resulting from their strategy review (a process designed to solicit broad input on the strategy and priorities of the IFRS Foundation as it enters its second decade). The Trustees initiated this comprehensive review of the Foundation as a result of the second Constitution Review that was completed earlier this year.

In its comment letter, the PwC global network:

• Provides observations on what it considers to be important issues connected with the strategy review, specifically with respect to (1) the coordination of the Trustees’ strategy review with the review being conducted by the Monitoring Board of regulatory authorities of the governance of international accounting standard setting and (2) the Trustees' separate review of the effectiveness of the IFRS Interpretations Committee and efforts to address local interpretations of IFRS.
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• Shares its views on the specific principles and recommendations proposed by the Trustees with respect to the organization's (1) mission, (2) governance, (3) due process, and (4) funding.