Workgroup member photo

Patrick de Cambourg

EFRAG Board Member

Patrick de Cambourg, a graduate from Sciences Po Paris, also holds degrees in public and business law and is bachelor in Arts.

As chartered accountant and auditor, he has spent his entire career within the Mazars Group, successively as junior, manager, and partner. He became President of Mazars in 1983. In 1995, he was appointed Chairman of the Management Board of the newly created international partnership, and in 2012 he became Chairman of the Supervisory Board. Since late 2014, he has been Honorary President of the Mazars Group.

Since March 2015, Patrick de Cambourg has been President of the Autorité des normes comptables (ANC), the French accounting standard setter. As such, he is also a member of the Board of the Autorité des marchés financiers (AMF), the Board of the Autorité de contrôle prudentiel et de Résolution (ACPR), the Board of the CNOCP, the consultative body for public accounting standards, and member of the Haut Conseil de Stabilité Financière.

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EFRAG Board

Role of the EFRAG Board

The EFRAG Board is responsible for all decisions made and positions taken at EFRAG. It makes its decisions to the extent possible on the basis of consensus with the objective of Europe speaking with one voice.  It is also responsible for the general oversight over the organisation and reports to the EFRAG General ​Assembly.
 

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Composition of the EFRAG Board

The composition of the EFRAG Board makes EFRAG the legitimate European voice in the development of IFRS. The EFRAG Board includes in equal numbers representatives of European Stakeholder Organisations (eight seats) and National Standard Setters (eight seats) and is led by a President of the EFRAG Board.  The European Commission, the European Supervisory Authorities and the European Central Bank (ECB) participate in the EFRAG Board in an observer capacity.
 

There are four seats for National Standard Setters that are not permanently represented on the EFRAG Board. Art 9.2 of the EFRAG Internal Rules foresees a form of consultation amongst the National Standard Setters concerned. These Standard Setters have agreed a coordination process for nomination of candidates for the four EFRAG Board seats taking into account certain considerations. A description of the coordination process and the considerations as well as an input and information facility for NSS of countries that contribute to the funding of EFRAG but are not represented on the EFRAG Board can be found here​.

 

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How the EFRAG Board operates

EFRAG Board members are expected to have a thorough understanding of how financial reporting requirements are likely to impact the constituency they represent. They make however their decisions independently so as to have EFRAG work solely in the public interest and operate on the basis of consensus to the extent feasible. They make a formal commitment of working in the public interest when coming into office and are governed by EFRAG's conflict of interest policy.
 
The EFRAG Board does not rely solely on its broad representativeness, it adopts well-informed positions. The EFRAG Board is taking all its decisions after having considered the advice of the EFRAG TEG and the results of EFRAG’s due process. It also hears from the Accounting Regulatory Committee and makes all assessments deemed relevant from a macro-economic perspective. It can seek further advice on issues in relation to the European public good by forming its own working groups. To date none has been formed.
 
To carry out its governance and oversight duties and in accordance with the EFRAG internal rules, the EFRAG Board relies on the advice received from committees populated from within the EFRAG Board: the EFRAG Board Audit and Budget Committee, the EFRAG Board Nominating Committee and the EFRAG Board Remuneration Committee.
 
The EFRAG Board has the following official observers of the European Institutions with speaking rights: European Commission - Alain Deckers; ECB (European Central Bank) - Jürgen Kirchhof and Kallol Sen; EBA (European Banking Authority) - Delphine Reymondon; EIOPA (European Insurance and Occupational Pensions Authority) - Sandra Hack; and ESMA (European Securities and Markets Authority) - Isabelle Grauer-Gaynor. In addition, Jean Medernach, representing Better Finance, is at present the observer with speaking rights for European Organisations representing private investor.
 

The EFRAG Board is supported in all its activities by the EFRAG secretariat

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Membership of the EFRAG Board

The current Members of the EFRAG Board are (please click on Members' names to view their profiles):

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Name Job title
Patrick de Cambourg EFRAG Board Member
Jean-Paul Gauzes EFRAG Board President
Rosa Bruguera EFRAG Board Member
Hans Buysse EFRAG Board Member
Angelo Casò EFRAG Board Member
Luca Cencioni EFRAG Board Member
Benoit Jaspar EFRAG Board Member
Roger Marshall EFRAG Board Member
Claes Norberg EFRAG Board Member
Søren Kok Olsen EFRAG Board Member
Laurence Rivat EFRAG Board Member
Peter Sampers EFRAG Board Member
Maria Dolores Urrea Sandoval EFRAG Board Member
Anders Ullberg EFRAG Board Member
Mark Vaessen EFRAG Board Member