The IFRS Foundation has published a Feedback Statement following its review of ASAF.
The Trustees, having carefully considered the feedback and advice, are satisfied that the current MoU remains appropriate. The Trustees will amend the ASAF Terms of Reference to extend the terms of office of ASAF members from two years to three years.
Michel Prada, Chairman of the Trustees of the IFRS Foundation commented:
We are pleased with the positive feedback received in response to the review of ASAF. There is strong support for ASAF and for the Board's commitment to ASAF.
The review highlights the importance of the work of national standard-setters and regional groups in supporting the Board to achieve its objectives. The Trustees would like to take this opportunity to thank all of those that have helped to make ASAF a success.
ASAF held its inaugural meeting in April 2013. The establishment of ASAF was an important step for the Board, and the Trustees committed themselves to review ASAF after two years.
