The IFRS Foundation gets high marks for its transparency and independence according to the findings of a reputational research study. Also, its consultations are perceived as professional, open, and effective with good quality documentation. However, several weaknesses were also identified, the main one being the perception that the foundation is not timely and does not respond quickly enough to a changing world. Also seen as a weakness are especially long development and consultation phases.
The report offers six recommendations: (1) continue the good work; (2) improve outreach and consult more widely; (3) develop events, training, and education; (4) improve timeliness, (5) respond to the need for simple, practical, and workable standards; and (6) harness advocates to act as ambassadors.
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