The structure of the organisation is depicted in the following diagram. The structure is designed to support those features that are regarded as desirable in establishing the legitimacy of a standard-setting organisation: its members are technically expert, represent the wider community and are independent.

The structure achieves its purpose by a balance of the functions of the various parts of the organisation, through the operational relationship shown in the diagram. The composition of the oversight body (the Trustees of the International Accounting Standards Committee Foundation), the advisory body (the Standards Advisory Council) and the interpretative body (the International Financial Reporting Interpretations Committee) represents the wider community by reflecting a diversity of geographical or professional backgrounds and membership of the standard-setting body (the International Accounting Standards Board) is based on the principles of technical competence and independence.