Based on the provisions in IAS 24, and considering that the Plenary is the FSB’s sole decision- making body (according to Article 4 of the Articles of Association), the FSB considers the following to be its related parties: ■ Institutions that are members of the FSB Plenary; and ■ The FSB Chair, as well as the Chair’s close family members and institutions controlled by the Chair. [...] The specific relationship between the FSB and the BIS, as well as the value of the BIS’s direct services and the nature of the indirect services contributed are described in Note 2.2 and Note 6, 7 respectively. [...] Auditor’s report To the Plenary of the Financial Stability Board, Basel Auditor’s report on the audit of the financial statements Opinion We have audited the financial statements of the Financial Stability Board (“FSB”), which comprise the statement of activities for the year ending 31 March 2023 and notes to the financial statements, including a summary of significant accounting policies. [...] The Plenary adopts reports, principles, standards, recommendations and guidance developed by the FSB; establishes Standing Committees and working groups; decides on membership of the FSB, assigns seats to members in the Plenary, agrees on the composition of the Committees; and approves the work programme and budget of the FSB. [...] Member jurisdictions of the six Regional Consultative Groups 3.5 Chair and Secretariat The Chair of the FSB is the principal spokesperson for the FSB and represents the FSB externally.
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