IFRS Monitoring Board Press Release
Overview
The Financial Services Agency announced that the IFRS Foundation Monitoring Board issued a press release following its meeting in Amsterdam. The release covered oversight of the IASB and ISSB, the Foundation’s funding and governance, standard setting and post-implementation reviews, and support for developing internationally trusted standards.
Key points
- The Financial Services Agency announced the publication of a press release following a Monitoring Board meeting.
- The meeting was held in Amsterdam on October 21 and 22, 2026.
- The importance of maintaining appropriate oversight of the IASB and ISSB was highlighted as the Foundation transitions to a new leadership structure.
- Support was expressed for the continued development of high-quality, internationally trusted accounting standards and sustainability disclosure standards.
Overview
On October 29, 2026, the IFRS Foundation Monitoring Board, comprising representatives of authorities including the Financial Services Agency, issued a press release following its meeting in Amsterdam on October 21 and 22 of the same month. The meeting was chaired by Toshiyuki Miyoshi, Vice Minister for International Affairs at the Financial Services Agency.
Details
The release noted the importance of the Foundation appropriately overseeing the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB), and maintaining arrangements that enable them to respond effectively to the needs of investors and capital markets. It also discussed continuing deliberations on strengthening the funding, governance, and oversight models of the Foundation and certain components of the financial reporting ecosystem, as well as organizational reforms, including proposed amendments to the constitution, and their implications for the governance and oversight framework.
The importance of rigorous standard setting to support due process, robust cost-benefit analysis, and effective stakeholder engagement was highlighted. Post-implementation reviews were considered important for checking whether standards work as intended and ensuring continued responsiveness to the needs of investors and capital markets, while fully respecting the independence of standard setting.
The importance of maintaining and strengthening the Foundation’s accountability to the public interest and a funding model that supports its mission was highlighted. The release also included an exchange of views with the new managing director and the new IASB Chair, as well as the Chair’s comments.