IFRS Foundation Trustees confirmed the appointment of six new organizations and the reappointment of 12 organizations to the IFRS Advisory Council. The newly appointed organizations include Bayer, Eumedion, Japanese Institute of Certified Public Accountants (JICPA), Malaysian Accounting Standards Board (MASB), S&P Global Ratings, and Xiamen University. All appointments will take effect from January 01, 2020 and are for a three-year period. IFRS also published the list of members of the Council stepping down at the end of their terms. An announcement regarding the appointment of a new Chair will also be made in due course.
The IFRS Advisory Council advises IFRS Foundation Trustees, who are responsible for the oversight and governance of IASB, and IASB on strategic and technical matters. It consists of representatives from over 40 groups that are affected by, and interested in, international financial reporting, including academics, analysts, auditors, investors, preparers, professional accounting bodies, regulators, and standard-setters. The Council membership is held by the organization concerned and not its individual representatives. EC, JFSA, and SEC also attend the Council meetings as observers.
Keywords: International, Banking, Accounting, Advisory Council, S&P, JICPA, IASB, IFRS
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