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Enhancement of EFRAG's role and working process

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

30 Apr 2004

EFRAG has finalised its position paper on Enhancement of the Role and Working Process of EFRAG (PDF 65k).

Among the conclusions:

  • Expand the role of the Supervisory Board
  • Require that EFRAG analyse the economic, legal, and practical implications when expressing views on major issues
  • Create an Advisory Forum
  • Change EFRAG's voting procedures
  • Cooperate more closely with EU national accounting standard setters
  • Enhance EFRAG's working relationship with IASB
  • Increase EFRAG's overall visibility and transparency
  • Seek formal recognition under the EU accounting regulation from the European Commission
  • Increase EFRAG's funding

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