The IFRS Foundation has restructured the organisation to improve operational efficiency and effectiveness, with changes implemented at the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB), and creation of a new overarching management committee.

The latest IFRS Foundation annual report showed a cost review in 2024-25 produced a 15% cut in staff costs, a reduction in governance costs and a decision to ‘gradually reduce’ the number of IASB and ISSB board members from 14 to 10, while maintaining expertise and appropriate geographic balance.

Overall headcount reduced from 369 at the end of 2024 to 321 over the course of the year, with 32% of staff working directly for the ISSB, and 23% for the IASB. Staffing costs were £45.9m, down from £48.3m the previous year, although the annual report inferred this figure is likely to rise with more technical hires planned this year.