EFRAG General Assembly and EFRAG Member Organisations
With the reform which came into force on 31 October 2014, the EFRAG General Assembly was enhanced, admitting new Members.
The Members of EFRAG are:
European Stakeholder organisations
|FEE||Federation of European Accountants|
|BUSINESSEUROPE||European Business Federations|
|INSURANCE EUROPE||European (re)insurance Federation|
|EBF||European Banking Federation|
|ESBG||European Savings and Retail Banking Group|
|EACB||European Association of Co-operative Banks|
|EFAA||European Federation of Accountants and Auditors for SMEs|
|EFFAS||European Federation of Financial Analysts Societies|
|Denmark||grouping of six Danish organisations|
|Autorité des Normes comptables (ANC - France)||French funding mechanism|
|Accounting Standards Committee of Germany||DRSC/ASCG - Germany|
|Organismo Italiano di Contabilità||OIC - Italy|
|Commission des Normes comptables||CNC - Luxembourg|
|Dutch Accounting Standards Board||DASB - Netherlands|
|The Association for Generally Accepted Principles in the Securities Market||Sweden|
|Financial Reporting Council||FRC AC – United Kingdom|
Alongside fulfilling the legal requirements under the Belgian law for international associations and deciding over the statutes, internal rules and membership of EFRAG, the EFRAG General Assembly is in charge of:
- Approving the financial statements and the budget of next year
- Appointing the President, Vice-President and members of the Board. The President of the Board is nominated by the European Commission after having heard the Council of the European Union and the European Parliament;
- Exercising general oversight over the Board, whilst respecting the Board’s responsibility for the professional positions taken.
- Acting as a sounding board for the European Commission in relation to its participation in the IFRS Foundation Monitoring Board when the European Commission calls upon the Association to do so.
Please refer to the legal section for the comprehensive texts of the EFRAG Statutes and Internal Rules.