IFRS Foundation Trustees announce new composition of ASAF

 24 June 2015

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), announced today the membership of the Accounting Standards Advisory Forum (ASAF) for the next three years.

The ASAF was established in 2013 and serves as the technical advisory body to the IASB. As set out in the ASAF Terms of Reference, the IFRS Foundation completed a review of the ASAF and its membership in 2015. It showed strong support for the ASAF and the IASB's commitment to the ASAF, highlighting the importance of the work of national standard-setters and regional bodies in supporting the IASB to achieve its objectives.

Michel Prada, Chairman of the IFRS Foundation's Trustees, commented:

"We appreciate the support of all those who have helped make the ASAF a success. It has proven a valuable platform for effective technical discussion between the IASB and members of the global accounting standard-setting community, who are represented either directly or through their membership of regional bodies. Going forward, we hope the ASAF continues to evolve and that discussions include both matters on the IASB's agenda and jurisdictional topics."

The ASAF comprises 12 non-voting members, represented by individuals, and is chaired by the IASB. The composition of ASAF members with immediate effect is:

Region Members
Africa Financial Reporting Council of South Africa
Asia-Oceania (including one at large) Asian-Oceanian Standard-Setters Group (AOSSG)
Accounting Standards Board of Japan
Australian Accounting Standards Board working with the New Zealand Accounting Standards Board
China Accounting Standards Committee
Europe (including one at large) European Financial Reporting Group (EFRAG)
Accounting Standards Committee of Germany
Autorité des normes comptables
Organismo Italiano di Contabilità 
The Americas Group of Latin American Accounting Standard Setters (GLASS)
Canadian Accounting Standards Board
Financial Accounting Standards Board

The ASAF meets four times a year. All meetings are held in public and are available through live webcasts. The next meeting of the ASAF will take place 16–17 July 2015.