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EFRAG Technical Expert Group (EFRAG TEG)

As part of its decision-making process, the EFRAG Board considers the expert advice provided by the EFRAG Technical Expert Group (EFRAG TEG), which recommends technical positions reached independently, albeit after having given due consideration to all input received through EFRAG’s due process. After the reform of EFRAG, EFRAG TEG is composed of up to sixteen members, twelve of which being selected on the basis of professional expertise and competence, and four others being nominated by the National Standard Setters of France, Germany, Italy and the UK to act as a strong liaison between EFRAG TEG and their national constituencies.  The EFRAG Technical Expert Group members devote 30% to 50% of their time – free of charge – to EFRAG, except for its Chairman, Françoise Flores, who is employed by, and the CEO of, EFRAG.

The European Securities and Markets Authority, the ESAs and ECB, the IASB and the European Commission attend EFRAG Technical Expert Group meetings as observers.

Aiming for well-balanced and independent technical positions

The EFRAG Technical Expert Group Members are appointed through a formal process: an open call for candidates to support rotation among the 12 members selected solely on the basis of their professional expertise and competence, and a call for nominations sent to standard setters to select members who act as liaison with their national constituencies. In addition to bringing to EFRAG TEG members having the relevant level of knowledge and experience, the aim is to establish a broad balance in geographical and professional backgrounds. As a result, the EFRAG Technical Expert Group is composed of a mix of preparers, auditors, users of financial statements and academics, to ensure its deliberations and conclusions are independent and not unduly influenced by any interest group or constituency. Members of the EFRAG Technical Expert Group are required to act in the European public interest and not to consider themselves as representing sectorial or national interests. This also applies to EFRAG TEG members nominated as liaison with National Standard Setters.

Well-informed technical positions

The EFRAG Technical Expert Group benefits from expert advice in specialist areas provided by EFRAG working groups, such as the EFRAG Financial Instruments Working Group, the EFRAG Insurance Accounting Working Group, and the Rate-Regulated Activities Working Group. Essential to the work of EFRAG is input received from EFRAG’s User Panel. The purpose of the Panel is to provide broad input from users to the EFRAG Technical Expert Group. EFRAG also works closely with all National Standard Setters in Europe, meeting with them every three months in the Consultative Forum of Standard Setters  (EFRAG CFSS), and by working with them and the IASB to organise and conduct public hearings and field tests in accordance with EFRAG’s field work policy.


The EFRAG secretariat provides technical support for the activities of the EFRAG Technical Expert Group.

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