Accounting Standards Advisory Forum (ASAF)
Background
The Accounting Standards Advisory Forum (ASAF) formalises and streamlines the relationships between the IFRS Foundation and IASB with representatives from across the standard-setting community, in order to bring important regional perspectives to the IASB's technical work and to offer feedback on the most important issues of the day.
The objective of the ASAF is to provide an advisory forum where members can constructively contribute towards the achievement of the IASB's goal of developing globally accepted high-quality accounting standards.
The IFRS Foundation announced the formation of the ASAF in February 2013, after a consultation process. Initial membership was announced in March 2013. The first meeting of the ASAF was held on 8 and 9 April 2013.
Structure and membership
The ASAF is comprised of 12-16 members and a non-voting chair (being the IASB chair or vice-chair). The members are sourced from the following geographical regions:
| Geographical region | Number of members |
|---|---|
| Africa | 1 |
| Americas (North and South) | 3 |
| Asia/Oceania | 3 |
| Europe (including non-EU) | 3 |
| World at large* | up to 6 |
| TOTAL | 12 |
* subject to maintaining overall geographical balance.
Membership
The ASAF composition as of February 2020 is as follows:
| Geographical region | ASAF member |
|---|---|
| Africa | Pan African Federation of Accountants (PAFA) |
| Americas | Group of Latin American Standard Setters (GLASS) |
| Canadian Accounting Standards Board (AcSB) | |
| United States Financial Accounting Standards Board (FASB) | |
| Asia/Oceania | Accounting Standards Board of Japan (ASBJ) |
| Accounting Regulatory Department, PRC Ministry of Finance China | |
| Korea Accounting Standards Board (KASB) | |
| Asia Oceania Standard Setters Group (AOSSG) | |
| Europe | Autorité des normes comptables (ANC) |
| UK Endorsement Board (UKEB) | |
| Accounting Standards Committee of Germany | |
| European Financial Reporting Advisory Group (EFRAG) |
Meetings of the ASAF are usually held in London.
