The International Financial Reporting Standards (IFRS) Foundation’s Trustees approved the 2027 budget and supported the principle that beneficiaries of IFRS Standards should contribute to developing and maintaining them. The decisions form part of implementing the Foundation’s operating and financing plan covering five years. The budget prioritizes delivery of the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB) work programs, sustainable income growth and cost control. For IASB funding, the Trustees emphasized collaboration with jurisdictions that have adopted IFRS Accounting Standards to develop funding mechanisms suited to their circumstances. Separately, funding announced in August, together with existing and committed funding and commercial revenue streams, will support the ISSB’s work until 2031. On governance, six Trustees have been reappointed for second terms of three years starting on Jan. 1, 2027, following approval by the IFRS Foundation Monitoring Board. Steven Maijoor will succeed Trustees Chair Erkki Liikanen from the same date, and the search for a new European Trustee has begun.
IFRS Foundation Trustees approve 2027 budget and back shared funding approach
The IFRS Foundation’s Trustees approved a 2027 budget focused on the accounting and sustainability boards’ priorities, sustainable income growth and cost control. They supported contributions from beneficiaries of IFRS Standards, including collaboration with adopting jurisdictions on funding mechanisms for the accounting board. Funding announced in August, alongside existing and committed funding and commercial revenue, will support the sustainability board until 2031.