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IFRS Foundation invites nominations for membership of the Accounting Standards Advisory Forum and publishes feedback statement following review of the ASAF

 01 May 2015

The IFRS Foundation has today issued a Call for Nominations, inviting applications for membership of the Accounting Standards Advisory Forum (ASAF).  The Call for Nominations sets out the membership criteria and other factors that the IFRS Foundation will take into account in the selection or reappointment of members of the forum, together with the Memorandum of Understanding (MoU) and updated Terms of Reference (ToR).

The Call for Nominations can be found here.

The IFRS Foundation has also published a Feedback Statement following its review of the ASAF.  The Feedback Statement is available here.

The ASAF held its inaugural meeting in April 2013.  The establishment of the ASAF was an important step for the IASB, and the Trustees committed themselves to review the ASAF after two years. 

The Trustees, having carefully considered the feedback and advice, are satisfied that the current MoU remains appropriate.

The Trustees will amend the ASAF ToR to extend the terms of office of the ASAF members from two years to three years. 

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

We are pleased with the positive feedback received in response to the review of the ASAF.  There is strong support for the ASAF and for the IASB’s commitment to the ASAF. 

The review highlights the importance of the work of national standard-setters and regional groups in supporting the IASB to achieve its objectives.  The Trustees would like to take this opportunity to thank all of those that have helped to make ASAF a success.

The closing date for nominations is 28 May 2015.  The IFRS Foundation will consider all eligible candidates for selection.  The Trustees will then approve the final membership of the ASAF.


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