EFFAS Financial Accounting Commission - FAC
The Financial Accounting Commission's aims at the further development of International Accounting Standards from an analyst standpoint. The Commission actively participates in the harmonisation of accounting standards stating regularly its position on consultation papers from the International Accounting Standards Board (IASB).
During the past year, Commission's work focused primarily on topics under discussion by EFRAG and the IASB. Financial Statement Presentation, formerly Performance Reporting, Business Combinations and Fair Value Measurement are topics undergoing fundamentals changes and in which FAC members are actively participating.
FAC members represent EFFAS in the European Financial Reporting Advisory Group (EFRAG) that advises the European Commission on accounting issues particularly on the implementation of International Financial Reporting Standards (IFRS). Dr. Carsten Zielke is a member of both EFRAG Technical Expert Group (TEG) and the Insurance Accounting Working Group (IAWG).
EFRAG has recently launched a User Panel. EFFAS members Jean-Baptiste Bellon (France), Javier de Frutos (Spain), Jacques de Greling (France), Dr. Rainer Husman (Germany), Peter Malmqvist (Sweden), Michael Schickling (Germany), Friedrich Spandl (Austria), and Dr. Carsten Zielke (Germany) are members of this Panel.
Chairman: |
Javier de Frutos from IEAF, Spain |
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Vice-Chairman |
Friedrich Spandl from ÖVFA, Austria |