EFRAG’s Supervisory Board announced today the composition of EFRAG’s Technical Expert Group, to take effect in April 2012.

Joanna Frykowska from Ernst & Young Poland and Serge Pattyn from Emerio in Belgium are appointed as new members of EFRAG TEG. Mike Ashley has been reappointed as the EFRAG TEG Vice-Chairman. The existing EFRAG TEG members who were available for reappointment – Nicklas Grip, Nicolas de Paillerets, Hans Schoen, and Andrea Toselli – have been reappointed.

Pedro Solbes, Chairman of EFRAG’s Supervisory Board, welcomed the new EFRAG TEG:

“We are delighted to keep a strong EFRAG Technical Expert Group in place with the reappointment of five existing EFRAG TEG members, and the appointment of Joanna Frykowska and Serge Pattyn. This will allow EFRAG to continue facing 2012 financial reporting challenges successfully, in a year when the IASB has to not only bring its four main active projects (Revenue Recognition, Leases, Financial Instruments, and Insurance Contracts) to a close, but also shape its working plan and new activities for the years to come. I am confident that EFRAG TEG in its new composition will continue to allow European views to constructively influence IASB decisions on the international scene.”

Françoise Flores, EFRAG Chairman, expressed her support and commented further:

“I would like to express all our gratitude to Anna Sirocka and Carsten Zielke who have shown great dedication to the work of EFRAG for the last six years, and brought to EFRAG their financial reporting expertise and deep knowledge in, respectively, the specificities of Eastern Europe and the needs of users. I am delighted to welcome Joanna Frykowska and Serge Pattyn who will ensure that EFRAG TEG keeps the appropriate level of insight into these two particular areas. Finally, I welcome the continuity and level of quality that the reappointments of Mike Ashley as EFRAG TEG Vice-Chairman, and of Hans Schoen, Nicklas Grip, Andrea Toselli and Nicolas de Paillerets as EFRAG TEG members, are securing for the work of EFRAG.”

You will find below the full text of the press release.