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TRUSTEES APPROVE OVERSIGHT GUIDANCE FRAMEWORK |
| Source: | IASC Foundation | | Country: | International | | Date: | 09/11/2006 | | Contributor: | Andy Lymer | | Web: | http://www.iasb.org |
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The IASC Foundation Trustees have approved a framework to guide and evaluate the effectiveness of their oversight function. This recognizes the importance of oversight effectiveness as an integral part of the wider concept of Trustees’ accountability. The Trustees’ Procedures Committee, now chaired by Antonio Vegezzi, will oversee the implementation of this framework.
In announcing approval of the oversight framework, Philip A Laskawy, Chairman of the Trustees commented: "My colleagues and I believe that the development of more formalised measures of effectiveness in oversight will assist the Trustees in carrying out our duties and in protecting the independence of the IASB’s standard-setting process. The continued improvement of oversight measurements, consistent with the IASC Foundation’s Constitution, will improve confidence in the standard-setting process and is an important element of enhancing that independence."
For furtehr details on the operation of the Trustees see the IASB website at http://www.iasb.org
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