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
Previous ArticleRBI Allows Rural Banks to Issue Perpetual Debt to Augment Capital
The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.
The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.
The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).
The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.
The Hong Kong Monetary Authority (HKMA) published a circular, along with the reporting form and instructions, for self-assessment, by authorized institutions, of compliance with the Code of Banking Practice 2021.
The Financial Conduct Authority (FCA) decided to register European DataWarehouse Ltd and SecRep Limited as securitization repositories under the UK Securitization Regulation, with effect from January 17, 2022.
The European Commission (EC) published the Delegated Regulation 2022/25, which supplements the Investment Firms Regulation (IFR or Regulation 2019/2033) with respect to the regulatory technical standards specifying the methods for measuring the K-factors referred to in Article 15 of the IFR.
The Bank of International Settlements (BIS) published a paper that assesses the ways in which platform-based business models can affect financial inclusion, competition, financial stability and consumer protection.
The Central Bank of Egypt (CBE) published a circular with instructions on emergency liquidity assistance to banks that are unable to meet their liquidity requirements.
The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.