German Standard Setter announces new presidency and membership of new technical committees
As reported earlier, unresolved questions of financing and membership basis had led the Accounting Standards Committee of Germany (ASCG) to terminate in June 2010, effective 31 December 2010, the standardization agreement with Germany's Ministry of Justice.
After months of debate and renewed efforts to find sustainable financing, the General Assembly of the ASCG found in May 2011 that a German Standard Setter can continue to exist. The new supervisory board held its inaugural meeting in September 2011, and today the members of the new technical committees and the new presidency were announced.
Ms. Liesel Knorr, President of the German Accounting Standards Board, will continue as new president and will head the two new technical committees – one for IFRSs and one for German GAAP. Among the members appointed to the IFRS technical committee is Dr. Andreas Barckow, head of Deloitte SE's IFRS Leadership Team, head of Deloitte's Frankfurt IFRS Centre of Excellence and member of the Global IFRS Leadership Team (GILT) of Deloitte.
More information on the new committees is available on the ASCG website (German / English). More information on the accounting framework in Germany is available on our IAS Plus country page for Germany.