IFRS Advisory Council
Role of the IFRS Advisory Council
The IFRS Advisory Council provides a forum for the IASB to consult a wide range of interested parties affected by the IASB's work, with the objective of:
- advising the Board on agenda decisions and priorities in the Board's work
- informing the Board of the views of the organisations and individuals on the Council on major standard-setting projects
- giving other advice to the Board or to the Trustees.
The IFRS Advisory Council normally meets two times a year (number of meetings reduced from three meetings to two by the 2015 Constitution review).
The IFRS Advisory Council was previously known as the Standards Advisory Council. At their meeting in January 2010, the IASCF Trustees voted to rename the Standards Advisory Council to the IFRS Advisory Council. The name change was implemented as of 31 March 2010.
Membership of the Advisory Council
Number and appointment of members. Under the IFRS Foundation Constitution, The Advisory Council has '30 or more' members. The number is currently around 50. Members are appointed by the Trustees for a renewable term of three years. They have diverse geographic and functional backgrounds.
Criteria. Under the IFRS Foundation Constitution, key criteria for selecting Advisory Council members are geographic diversity and diversity of professional backgrounds. From 2009, the IFRS Foundation Trustees have decided that nominations to the membership of the Advisory Council will be primarily on the basis of representation of organisations that are relevant to standard setting of accounting principles. The Trustees have not specified any organisations.
Remuneration. Advisory Council members are not paid, and they will normally be expected to be associated with organisations that will meet the costs of their participation in meetings although exceptions may be made for certain individuals.
Initial Advisory Council members, 2001. On 25 June 2001, the IASC Trustees announced the appointment of 49 persons to the Advisory Council. The 49 members include chief financial and accounting officers from some of the world's largest corporations and international organisations, leading financial analysts and academics, regulators, accounting standard setters, and partners from leading accounting firms. They come from six continents, 29 countries, and five international organisations. Additionally, the European Commission, the U.S. Securities and Exchange Commission, and the Financial Services Agency of Japan will participate as observers. Since the original appointments, several Advisory Council membership changes have occurred.
Current Advisory Council members. The members of the IFRS Advisory Council as of 1 January 2021 are outlined below:
| Organisation | Individual | Title |
|---|---|---|
| Chair | ||
| Bill Coen | ||
| Members | ||
| ACTEO & MEDEF | Olivia Larmaraud | Deputy Corporate Accounting Director, PSA Peugeot Citroën |
| AIA Group |
Garth Jones
|
Group CFO |
| Banco Bilbao Vizcaya Argentaria, SA |
Maria Ángeles Peláez Morón
|
Head of Global Financial Accounting |
| Basel Committee on Banking Supervision |
Carolyn Rogers
|
Secretary General |
| Bayer | Dr Martin Schloemer | Vice President, Head of Closing & External Reporting |
| BDO | Ehud Greenberg | Head of the professional practice department at BDO Israel |
| Brazilian Development Bank (BNDES) | Vania Maria Da Costa Borgerth | Special Advisor for Corporate Reporting and Corporate Governance to the CEO |
| Business Europe | Kristian Koktvedgaard | |
| Capital Markets Board of Turkey | Sibil Ulusoy Tokgöz | Deputy Head of the Accounting Standards Department |
| CFA Institute | Dr Giuseppe Ballocchi | Future of Finance Content Council member |
| Comision Nacional Bancaria y de Valores, Mexico | Laura Ramirez | Deputy General Director of Accounting Regulation |
| Corporate Reporting Users Forum (CRUF) | Greig Paterson | |
| Council of Institutional Investors | James Andrus | Investment Manager, Sustainable Investments, California Public Employees’ Retirement System |
| Deloitte | Trevor Derwin | Partner, Deloitte & Touche Africa |
| Ernst & Young (EY) | James Luke | |
| European Accounting Association (EAA) | Professor Thorsten Sellhorn | Professor of Accounting and Director of the Institute for Accounting, Auditing and Analysis at Ludwig-Maximilian University Munich’s School of Management |
| European Central Bank | David Grünberger | Head of the Prudential Regulation and Accounting Section |
| European Federation of Financial Analysts Societies (EFFAS) | Javier de Frutos | Chief Investment Officer, Sailbridge Capital |
| European Financial Reporting Advisory Group (EFRAG) | Saskia Slomp | EFRAG CEO |
| European Securities and Markets Authorities (ESMA) | Isabelle Grauer-Gaynor | Team Leader of the Corporate Reporting team |
| External Reporting Board (XRB), New Zealand |
Ken Warren
|
Chief Accounting Advisor, New Zealand Treasury |
| Fédération Internationale des Experts-Comptables Francophones |
Aziz Dieye
|
Founder and Past President of Fédération Internationale des Experts-Comptables Francophones and Chief Executive Officer of Cabinet Aziz Dieye |
| Financial Executives International | Ron Edmonds | Controller and Vice President of Controllers and Tax, DowDuPont |
| Grant Thornton | Daniel Civit | Partner, Head of the French Accounting Practice Group |
| Group of European national standard-setters (rotating among the standard-setters of France, Germany, Italy, UK (currently Germany)) |
Professor Dr Andreas Barckow |
President, DRSC e.V. |
| Insurance Europe | Anna Vidal Tuneu | Vice-Chair of the Financial Reporting Working Group |
| International Actuarial Association | Andrew Chamberlain | Chair of the Actuarial Standards Committee |
| International Association for Accounting Education & Research (IAAER) | Dr Leslie Hodder | Conrad Prebys Endowed Professor of Accounting at Indiana University’s Kelley School of Business |
| International Association of Insurance Supervisors (IAIS) | Romain Paserot | Deputy Secretary General |
|
International Co-operative Alliance (ICA)
|
Isabelle Ferrand
|
Chief Financial Officer, Confédération Nationale du Crédit Mutuel, Board Member of The International Co-operative Alliance and Chair of International Accounting and Regulatory Affairs Committee (IARAC) |
| International Corporate Governance Network |
Ian Burger
|
Head of Corporate Governance, Newton Investment Management |
| International Federation of Accountants (IFAC) |
Russell Guthrie
|
Chief Financial Officer and Executive Director - External Affairs |
| International Monetary Fund | Ellen Gaston | Senior Financial Sector Expert, Financial Supervision and Regulation Division, Monetary and Capital Markets Department |
| International Organization of Securities Commissions (IOSCO) |
Rotating between Antonio Quesada, Vice President of Regulatory Policy at the Mexican National Banking and Securities Commission (CNBV); and Marie Seiller, Chief Accountant at the French Autorité des Marchés Financiers (AMF) |
|
| Investment Association | Emma Miller | Director of EMEA Accounting Policy, BlackRock |
| Investment Company Institute (USA) | Alan Trotter | Chief Financial Officer: Europe, Middle East & Africa at Invesco |
| Japanese Institute of Certified Public Accountants (JICPA) |
Aiko Sekine
|
Advisor, former chairman and president |
| KPMG |
Andrew Marshall
|
Senior Technical Partner, KPMG UK |
| Lukoil |
Sergey Epifanov
|
Head of the Consolidation and International Financial Reporting Department |
| Malaysian Accounting Standards Board (MASB) |
Bee Leng Tan
|
Executive Director |
| Ministry of Finance, People’s Republic of China |
Xianzhong Li
|
Director-General of the Accounting Regulatory Department |
| Ortec Finance | Tessa Kuijl | Senior Lead Consultant, Pension and Insurance Risk Management |
| PricewaterhouseCoopers | Henry Daubeney | Partner - Global Chief Accountant and Head of Reporting |
| S&P Global Ratings | Osman Sattar | |
| Securities Analysts Association of Japan | George Iguchi | Chief Corporate Governance Officer, Senior General Manager of Equity Invesment Department, Nissay Asset Management Corporation |
| The Institute of Chartered Accountants of India | M P Vijay Kumar | Vice Chairman, Accounting Standards Board and Chairman, Valuation Standards Board of The Institute of Chartered Accountants of India |
| World Bank | Barbara McGowan | Lead Policy Officer at the World Bank |
| Xiamen University | Professor Feng Liu | Minjiang Chair of Accounting |
| University of São Paulo | Eduardo Flores | Assistant Professor at University of São Paulo - School of Accounting and Actuarial Science |
| Johannesburg Stock Exchange | Tania Wimberley | Head Financial Reporting Issuer Regulation Division at the Johannesburg Stock Exchange |
Observer organisations:
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