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IFRS - Accounting Standards Advisory Forum The objective of ASAF is to provide an advisory forum in which members can constructively contribute towards the achievement of the IASB’s goal of developing globally accepted high-quality accounting standards
IFRS Foundation Trustees announce ASAF membership 2025–2027 The ASAF membership criteria can be found in the ASAF Terms of Reference ASAF meets four times a year All meetings are held in public and can be followed live via webcasts on the IFRS Foundation’s website The first meeting of ASAF with its new composition will take place on 24 and 25 March 2025
Terms of Reference - IFRS Accounting Standards Advisory Forum: Terms of Reference effective from 1 January 2025 The Accounting Standards Advisory Forum (ASAF) is a group of nominated members from both National Standard-Setters (NSS) and regional bodies involved with accounting standard-setting (regional bodies) The members of ASAF and the IFRS Foundation (Foundation) signed a separate Memorandum of Understanding on 24
Meeting summary - IFRS The ASAF supports the IFRS Foundation and the International Accounting Standards Board (IASB) in their objectives, and contributes towards the development, in the public interest, of high-quality, understandable, enforceable and globally accepted IFRS Accounting Standards
IFRS - History of the Accounting Standards Advisory Forum In February 2013, the IFRS Foundation issued a Call for Candidates, inviting nominations for membership of the Accounting Standards Advisory Forum (ASAF) The Call for Candidates set out the membership criteria and other factors that the IFRS Foundation would take into account in selecting the members of the forum, together with a proposed Terms of Reference and a Memorandum of Understanding
Accounting Standards Advisory Forum (ASAF) meeting - IFRS Since then, we have consulted ASAF, the large accounting firms and stakeholders (more than 30 participants) across multiple jurisdictions that provided insights into what both producers and off-takers of power consider when entering into PPAs In November 2023, we asked for input from the Committee
Accounting Standards Advisory Forum meeting March 2024 Project ASAF . . . Many ASAF members provided further input into a potential narrow-scope standard-setting solution Most members emphasised that a solution is not only need for physical but also for virtual PPAs One member expressed concerns about making changes to the own-use requirements for physical PPAs because it could result in different accounting treatments for physical and virtual PPAs The information
Staff paper - IFRS ASAF members generally supported providing examples to help improve the reporting of the effects of climate-related and other uncertainties in the financial statements They also generally agreed with including the examples as illustrative examples accompanying IFRS Accounting Standards