17 July 2014
At their July 2014 meeting, the IFRS Foundation Trustees considered, and approved, a proposal from the Advisory Council to amend its terms of reference with immediate effect in relation to its secondary objective, moving the focus from promotion and adoption of IFRS to one of the Council encouraging board participation in the development of IFRS. With many Council members now being appointed in a representative capacity, this is thought to be more appropriate. As a consequence, the duties of the Chair of the Advisory Council have been updated to reflect the revised secondary objective.
The revised terms of reference have been posted on the Advisory Council section of the website.