The purpose of this essay is to outline the structure of the International Accounting Standards Committee Foundation. The International Accounting Standards Board (IASB) is organized under an independent organization called the International Accounting Standards Board Foundation (IASC Foundation). The IASC Foundation is a private sector entity, which receives funding in the form of donations from banks and accounting firms. The IASC Foundation is a non-profit organization acting in the public interest. The components of the restructured ISAB include the Monitoring Board, the IASC Foundation, the IASB, the International Financial Reporting Interpretation Committee (IFRIC), the Standards Advisory Council (SAC) and working groups. (Refer to figure 1). The IASC Foundation Monitoring Committee was established in January 2009, to improve the public accountability of the IASC Foundation without deteriorating the standard-setting process. The main purpose of the IASC Foundation was to create a relationship between the capital market authorities and the IASC Foundation, this is because the capital market authorities can be effective in raising capital. Administrators must write an annual report for the monitoring committee. However, the Monitoring Committee has the right to participate in the process of appointing and approving trustees, as well as advising trustees on the fulfillment of their responsibilities. The IASB Foundation manages the work of the IASB and is responsible for fundraising activities, which support the operations of the IASB. The IASC Foundation develops high-quality, globally accepted IFRS. The IASC Foundation are policy makers responsible for issuing policies. The IASC Foundation carefully examines what the IASB does but does not intervene in the agenda and work program of the ASB. SAC provides a forum for the participation of individuals interested in financial reporting. This is a wide range of individuals, from financial analysts to regulators, who are affected by the IASB's work. SACs can share their views on the standards-setting project. On the other hand, they can provide project advice on application and implementation issues that relate to existing standards developed by IFRIC. The working groups give the IASB further access to practical experience and expertise. The IASB creates working groups for their major projects. The working group is an advisory body of the IASC Foundation. The IASB appoints the members of the working groups. After the board publishes a discussion paper, the working groups will help the IASB understand and analyze the comments.