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Deloitte:
FEE
FEE expressed its disagreement with the proposal to reduce the size of the board and raised its concerns for any potential unintended negative impacts this might have on the quality of the work conducted by the IASB, especially in a time when greater emphasis on quality is necessary. FEE consequently believes that the Board should maintain its current structure and size of fourteen members.
In FEE´s view, the primary users of the IFRS being preparers, investors and other capital providers (primary users as defined in the IFRS Conceptual Framework) and auditors (who ensure an adequate level of trust), should be properly represented in the composition of the IASB. To ensure this representation and to ensure that Board members have a proper background and professional experience with applying the standards, a reference to “practical” experience is crucial.
Members of the IASB who represent other groups of secondary users, mainly regulators and academics, contribute not only to the technical expertise of the Board, but also to the global acceptance of the final IFRSs by different jurisdictions. Having recognised their contribution, FEE believes the number of Board members who have a professional market regulator background is currently sufficient to achieve the objectives stated above.