The trustees of the International Accounting Standards Committee (IASC) foundation will start searching for two new members of the International Financial Reporting Interpretations Committee (IFRIC) shortly, following amendments to the foundation’s constitution.
The oversight body of the International Accounting Standards Board (IASB) has published amendments to the foundation’s constitution, calling for greater diversity of practical experience among the IFRIC membership.
The constitutional changes enlarge IFRIC from 12 to 14 members and also amend the quorum and voting requirements.
The release of the constitutional amendments follows the trustees’ approval of proposals published for public comment in April this year.
The trustees considered the received comments at their meeting in New York from October 30 to November 1.
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