IASB Eyes New Advisory Body

The International Accounting Standards Board (IASB) plans to create an advisory group that will provide the IASB with technical advice and will formalise its relationship with the standard-setting community.

 

To be composed of a 12-member advisory group of national standards setters and regional bodies, the  Accounting Standards Advisory Forum (ASAF) will be made up by three representatives each from Europe, the Americas and Asia-Oceania, with Africa and the rest of the world getting an additional one seat each.

 

"The answer is to establish a multilateral forum where representatives of the standard-setting community can come together with the IASB, to discuss our work as well as other topics related to establishing IFRSs as global accounting standards," says Hans Hoogervorst, chairman of the IASB.

 

A public consultation document is open for comment until 17 December 2012.

 

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