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Trustees' review of Accounting Standards Advisory Forum

 07 November 2014

The IFRS Foundation publishes a questionnaire to gain the views of national standard-setters and regional bodies as part of its review of the Accounting Standards Advisory Forum. 


The Accounting Standards Advisory Forum (ASAF) was established to provide an advisory forum in which members constructively contribute towards the achievement of the IASB’s goal of developing globally accepted high quality accounting standards.  The IFRS Foundation Trustees’ aim when recommending the establishment of the ASAF was to formalise and streamline the IASB’s relationships with representatives from across the standard-setting community.

The objectives of ASAF and its operating procedures are set out in its Memorandum of Understanding and Terms of Reference. The Terms of Reference state that:

All aspects of ASAF and its operations shall be reviewed by the IFRS Foundation two years after the establishment of the group (as from the date of signing the Memorandum of Understanding (MOU)).

The MOU was signed in April 2013; the IFRS Foundation is commencing its review of ASAF.

The review

The IFRS Foundation is undertaking the review of ASAF by assessing how it has performed in relation to its Terms of Reference and Memorandum of Understanding. This approach will allow assessment of whether ASAF is achieving its stated objectives.

For the review to be effective, it is important that the IFRS Foundation seeks input from members of ASAF, the wider accounting standard-setter community and, where appropriate, the IFRS Foundation’s other advisory bodies. The IFRS Foundation is publishing this questionnaire for completion by members of the accounting standard-setting community who do not attend ASAF in person.

The questionnaire is the first step in obtaining input to the ASAF review.  Once we have had an opportunity to consider the feedback to the questionnaires, the staff may hold discussions with other interested parties before reporting to the IFRS Foundation Trustees.

The IFRS Foundation plans to review the feedback received and will publish a feedback statement outlining its findings and actions arising from the review. 


The timing of the review needs to ensure that the IFRS Foundation Trustees and the IASB are given an appropriate period of time to consider the findings from the review. 

The timing also needs to take into consideration the terms of office of current ASAF members. It is anticipated that the review will be completed in mid-2015, at which time a call for applicants will be made for members of ASAF.

Questionnaires should be submitted using the electronic version below by 9 January 2015.

Review of the Accounting Standards Advisory Forum Questionnaire