Robert Bruce, a financial journalist, reports on IFRSs in Europe. His views are his own and may not represent those of the IFRS Foundation or the IASB.
It is the arguments about technical aspects of standard setting that tends to catch the headlines. But the issue of the governance of the processes that bring about standards is equally important. The work of the IASB has expanded at an extraordinary rate over the last ten years. And ever since the G20 decided it wanted to see a common global language of financial reporting in operation the work of the IASB has taken centre stage, along with a place at the top table of global public policy. And that has meant a much greater focus on the IASB’s governance and public accountability.