A vote to approve the consolidation of the VRF into the IFRS Foundation has been carried out by the Trustees of the IFRS Foundation and the Board of Directors of the Value Reporting Foundation (VRF), and is effective as of 1 July 2022.

Last week, the VRF Board of Directors, SASB Standards Board and the Integrated Reporting Framework Board concluded the final meetings in New York. Following this, the IFRS Foundation Trustees and the VRF Board of Directors have sanctioned their approval of the consolidation of the VRF into the IFRS Foundation, currently on schedule as planned, from 1 July 2022.

Several organisational arrangements in order to align with the goals of the parties that led to announcing consolidation plans at COP26 will be involved in the consolidation of the VRF. These arrangements will inform the work of the IFRS Foundation through the industry-based approach of the SASB Standards and the Integrated Reporting Framework.

To this effect, VRF Board Directors Barry Melancon and Richard Sexton will become observers to the IFRS Foundation Trustees meetings as of 1 July 2022. Other VRF Directors, Alan Beller, Else Bos, Jane Diplock, Steve Gunders and Bob Herz will shape the IFRS Foundation Transitional Advisory Group.

CEO of VRF Janine Guillot will act as Special Advisor to ISSB Chair Emmanuel Faber and High-Level Ambassador for the ISSB as previously announced.

Detailed information a propos of the consolidation will be published on 30 June.

Source: Value Reporting Foundation