The aim of the 2015 review of ASAF was to assess how ASAF has performed in relation to its Terms of Reference and MOU.
The IFRS Foundation sought input from members of ASAF, the wider accounting standard-setter community and, where appropriate, its advisory bodies. Details of the approach to the review are set out in the Feedback Statement.
Findings from the review
On 1 May 2015 the IFRS Foundation published a Call for Nominations and a Feedback Statement on the review of ASAF.
The Feedback Statement sets out the findings and recommendations following the completion of the review. Feedback on ASAF was positive, with strong support for ASAF and the Board's commitment to ASAF. ASAF has established itself as a key advisory group to the Board.
The review highlights the importance of the work of national standard-setters and regional groups in supporting the Board to achieve its objectives.
The Feedback Statement sets out the actions that the Trustees and the Board will take in response to the matters raised in the review. The actions aim to build on the very positive start to ASAF and enhance its effectiveness.