Notes from day 1 of the February 2013 IFRS Advisory Council meeting

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26 Feb 2013

The IFRS Advisory Council is currently meeting in London. We have posted the Deloitte observer notes from the first day of the meeting. The discussions included the impact of the newly created Accounting Standards Advisory Forum (ASAF) on the IFRS Advisory Council and the question of the membership criteria for the ASAF.

Yael Almog, Executive Director of the IFRS Foundation, explained in an extended session on the ASAF the background of the proposal and the results of the consultation and also stated that the Memorandum of Understanding and Terms of Reference would be amended to clarify that membership of the Forum would be open to jurisdictions that had not adopted IFRSs, but were otherwise qualified (i.e., had the technical capacity and infrastructure to make a significant contribution to the ASAF).

Please click to access the preliminary and unofficial notes taken by Deloitte observers during the first day of the meeting.

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