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IFRS Foundation begins its review of the ASAF

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Nov 07, 2014

The IFRS Foundation (IFRSF) has published a questionnaire to assess the Accounting Standards Advisory Forum (ASAF). The questionnaire intends to gain views from those in the accounting standard-setting community that are not members of the ASAF.

As stated in the Terms of Reference, “[a]ll aspects of ASAF and its operations shall be reviewed by the IFRS Foundation two years after the establishment of the group (as from the date of signing the Memorandum of Understanding (MOU)).” The questionnaire is the first step in assessing how the ASAF has performed in relation to its Terms of Reference and MOU.

The IFRSF expects to publish a feedback statement in mid-2015 detailing the findings and actions from the review after the Trustees and IASB have had time to consider the findings; it is expected to be issued mid-2015. Participants are requested to complete the questionnaire by January 9, 2015.

For more information, see the press release on the IASB’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.