Trustees of the International Accounting Standards Committee Foundation, the oversight body of the International Accounting Standards Board, have published proposals to review its constitution. Open for public comment, the proposals, entitled Proposals for enhanced public accountability, seek to build on enhancing the IASC Foundation's governance, an issue that arose from its first five-yearly Constitution Review back in 2005. As a result of the first part of the review, a public accountability link to a monitoring board of capital market authorities was also established. The proposals are designed to improve stakeholder involvement with a various range of perspectives in both developed and emerging markets, and to help make operational improvements to the foundation. Gerrit Zalm, chairman of the IASC Foundation, said: 'Responding to feedback from the G-20 and others, trustees have already made significant enhancements to the governance and public accountability of the IASC Foundation within the first part of the constitutional review. The monitoring board is established and has met with trustees on several occasions. 'We now turn our attention to other areas that we have been asked to consider by interested parties. The proposals seek to provide further enhancements, and I look forward to hearing views through the consultation exercise and the upcoming round-table discussions.' Main areas to be discussed in the proposals include enhancing the IASB agenda-setting process; expanding the IASB's liaison with other organisations; establishing a procedure to the possibility of an accelerated due process; having geographical balance among the trustees, by taking account of Africa and South America as the IASB has done; and changing the foundation's name to the IFRS Foundation and renaming the IASB the IFRS Board to keep in line with its mission.