IASB working groups
Formation of working groups
Under the IFRS Foundation Constitution, the IASB will normally form working groups or other types of specialist advisory groups to give advice on major projects. Before setting up a working group, the IASB advertises for nominations and applications. The composition of a working group reflects the diversity and breadth of interest involved in a particular area. The IFRS Foundation Trustees' Procedures Committee reviews the proposed composition of each group to ensure that there is a satisfactory balance of perspectives. An IASB member serves as chairman.
Members of a working group serve in their personal capacity. They are not appointed to act as delegates or representatives of any group.
Meetings of working groups are attended by some IASB members and technical staff. Those meetings are open to public observation.
Role of working groups
In the early phases of a project, working groups help identify issues, alternative approaches, and priorities.
As a project moves through deliberations, the Board asks working groups to advise on key issues, especially as those issues may raise implementation questions.
After the Board has issued a discussion document and an exposure draft, advisory groups help the Board to understand and analyse the comments received.
The role of a working group is advisory. Working groups are not asked to reach consensus views or to make recommendations as a group.
Past working groups
Working groups have been established in relation to the following projects:
- IFRS for small and medium-sized entities
- Employee benefits
- Financial instruments
- Performance reporting (joint IASB-FASB working group)
- Leases (joint IASB-FASB working group)