IFRS Announces Appointments to IFRS Advisory Council from 2020
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 Article
RBI Allows Rural Banks to Issue Perpetual Debt to Augment CapitalRelated Articles
EBA Launches Stress Tests for Banks, Issues Other Updates
The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.
EBA Proposes Standards for IRRBB Reporting Under Basel Framework
The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.
FED Issues Further Details on Pilot Climate Scenario Analysis Exercise
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
US Agencies Issue Several Regulatory and Reporting Updates
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
ECB Issues Multiple Reports and Regulatory Updates for Banks
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
CBIRC Revises Measures on Corporate Governance Supervision
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
HKMA Publications Address Sustainability Issues in Financial Sector
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
EBA Updates Address Basel and NPL Requirements for Banks
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
