Appointments to EFRAG’s Technical Expert Group
EFRAG is calling for candidates for its Technical Expert Group (EFRAG TEG). Ten of the sixteen members of EFRAG TEG will reach the end of their current term of appointment on 31 March 2020 and one of the Country liaison members reach the end of their current term on 31 October 2019. All members are eligible for reappointment. The EFRAG Board Nominating Committee will decide on the reappointment of eligible EFRAG TEG members taking into consideration a range or factors, including balancing continuity with the need for a regular inflow of new members. Further details are provided in Appendix A.
Nominations of suitable candidates are sought from all financial reporting stakeholder organisations, including EFRAG Member Organisations and National Standard Setters. Individual applications are also welcome.
EFRAG is looking for candidates from a wide range of backgrounds and geographical origins and welcomes all applications. EFRAG in particular seeks candidates from Central and Eastern Europe and other countries not yet represented on EFRAG TEG. EFRAG strives for a proper geographical and gender balance in the composition of EFRAG TEG.
Nominations can be submitted through an EFRAG Member Organisation or National Standard Setter or directly for the attention of the EFRAG Board Nominating Committee Chair Peter Sampers.
Appointments will commence on 1 April 2020 and will be for one or two years (i.e. expiring on 31 March 2021 or 31 March 2022 in order to maintain a staggered rotation of EFRAG TEG members. Reappointments can be made, at the discretion of the EFRAG Board, for up to a maximum of six years in total serving on EFRAG TEG.
EFRAG TEG members should meet the following profile:
• Technical Competence: EFRAG TEG members should be the best technical experts in their field in Europe in accounting and financial reporting. They should have experience in the practical application of, or be advising on, the use of International Financial Reporting Standards (IFRS Standards). They will typically have a professional background as an issuer, auditor, or user of financial statements or as an academic (academic being defined as a person delivering training, doing research and/or lecturing at Universities or other form of bachelor/master education) although other professional backgrounds might also be relevant. Some of the members should have insurance or banking accounting experience.
• Experience: EFRAG TEG members should be active practitioners or demonstrate relevant practical experience in the past. Members will have knowledge of IFRS Standards and their application in financial reporting coupled with some specialist knowledge of particular industries. Members should be capable of developing new thinking on accounting and financial reporting concepts and applications. Members should have a good understanding of the work of national standard-setting and/or regulatory bodies with an interest in financial reporting in their country. This experience must have been acquired at a relevant and senior level of responsibility (typically partner in an accounting firm, Chief Accountant Officer/Head of accounting policies or IFRS Manager in a large listed corporation or financial institution).
• Commitment to act in the European public interest and to EFRAG’s mission: EFRAG TEG members should be committed to the objective of Europe speaking with one voice and supporting EFRAG’s objectives and main functions as set out in the EFRAG Statutes and the Internal Rules and demonstrate a willingness to communicate and represent this mission to the outside world.
• Ability to act in a personal capacity with the necessary degree of independence and objectivity: EFRAG TEG members will have a certain professional background but will not be representing their current or former organisation/employer (if any), European or national organisations. They should act independently of their professional or sectoral affiliation and act in the public interest. All EFRAG TEG members are expected to have a good knowledge and understanding of views and issues being considered and developed in their jurisdiction, as well as debates taking place in Europe.
• Ability to meet time commitments: EFRAG TEG members should have sufficient time available to work on issues and subjects debated in EFRAG TEG. EFRAG TEG holds ten in-person meetings annually, normally of 2 days per meeting but could be up to 3 days. Preparation time and participation in working groups and conference callson individual issues will also be required. EFRAG TEG members typically spend 15 to 20% of their working time on EFRAG-related work. EFRAG TEG members are appointed in a personal capacity and thus may not be represented by alternates.
• Ability to contribute to the meetings: EFRAG TEG members should provide an active contribution to the meetings also on issues they are not directly familiar with. They should familiarise themselves with those topics with help of their colleagues and stakeholders to be able to express views in the meeting. EFRAG TEG members should take ownership of EFRAG TEG’s work.
• Developed network of contacts: EFRAG TEG members have good contacts with financial reporting stakeholders and with the constituency representing their background at national and European (and international) level.
• Good command of the English language and communication skills: EFRAG TEG members should have a good command of the English language which is needed to participate in and actively contribute to the activities in EFRAG TEG. They should also demonstrate an ability to communicate effectively and clearly their views for an effective dialogue with fellow EFRAG TEG members.
For more information, please refer to the attached file.