The Regulation on the application of International Financial Reporting Standards mentions an accounting technical committee which shall provide support and expertise to the European Commission in the assessment of IFRSs. This committee is called EFRAG (European Financial Reporting Advisory Group). EFRAG provides opinion to the European Commission on proposals adopting IFRSs under Article 3 of that Regulation.
- The European Commission had nominated Mr Wolf Klinz as President of the Board of the European Financial Reporting Advisory Group (EFRAG) in March. He was expected to take office by June after his nomination had been approved by the European Parliament and Council and after appointment by the General Assembly of EFRAG. However due to ill health Mr Klinz has decided not to accept the EFRAG Presidency. Mr Roger Marshall will continue to act as President ad interim until a final President is appointed. The European Commission will nominate another candidate for the Presidency as soon as possible.
- The European Commission today decided to appoint Mr Wolf Klinz as President of the Board of the European Financial Reporting Advisory Group (EFRAG). Mr Klinz, a former member of the European Parliament, is due to take office after his nomination is submitted to the European Parliament and Council and after appointment by the General Assembly of EFRAG.
- 2013 - 2014
EFRAG governance reform (Philippe Maystadt’s report). Report from the Commission to the European Parliament and the Council on the progress achieved in the implementation of the reform of EFRAG following the recommendation provided in the Maystadt report.
- Report (COM/2014/0396 final)
- Regulation (EU) No 258/2014 of the European Parliament and of the Council of 3 April 2014 establishing a Union programme to support specific activities in the field of financial reporting and auditing for the period of 2014-2020 and repealing Decision No 716/2009/EC (Regulation 258/2014/EU)
- Commission Decision of 21 September 2009 nominating two public policy members of the Supervisory Board of the European Financial Reporting Advisory Group (Decision 2009/714/EC)
- Commission Decision of 13 July 2009 nominating a public policy member of the Supervisory Board of the European Financial Reporting Advisory Group (Decision 2009/549/EC)
- EFRAG statutes and internal rules