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The International Accounting Standards Board had issued this Strategy Review Consultation Document. On 5 November 2010 the Trustees of the IFRS Foundation, the oversight body of the IASB, initiated a review on the strategy of the IFRS Foundation as it enters its second decade. The Trustees initiated this review as a result of the second Constitution Review that was completed earlier in 2010.

The Trustees are now seeking views of stakeholders for a second time on a Strategy Review document that addressees four strategic fronts—the IFRS Foundation’s mission, governance, the standard-setting process, and financing of the IFRS Foundation.

Invitation to comments

ASB invites comments on the said Due Process Document from the public. The downloadable version of the Document is available at : http://www.ifrs.org/NR/rdonlyres/A490566E-EFF5-4F27-8DEF-D2ECCF9C5FFF/0/Trustees_Strategy_Review_2011.pdf.

The downloadable version of First Strategy Review consultation document- the first-stage consultation document designed to solicit input on the strategy of the IFRS Foundation in November 2010 is also available at the following link for the reference: http://www.ifrs.org/NR/rdonlyres/8F888493-D159-41EA-9FF3-8EBE7276659F/0/StrategyReviewREVFORDATE.pdf.

Comments would be most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.

Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than July 10, 2011. Comments can also be sent by e-mail at asb@icai.org or edcommentsasb@icai.org.

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