Workgroup member photo

Jean-Paul Gauzes

EFRAG Board President

On 1 July 2016 Jean-Paul Gauzès was appointed as EFRAG Board President, nominated by the European Commission. From the establishment of the European Corporate Reporting Lab @EFRAG he is also Chair of its Steering Group.

From 2004 till 2014 Jean-Paul was a member of the European Parliament. During the whole of this period he was a member of the Committee on Economic and Monetary Affairs (ECON). From 2008 till 2014 he was the Coordinator of the European People's Party (EPP) Group in ECON. He has been the rapporteur on various important dossiers including the Directive on Alternative Investment Fund Managers (2010); the Regulation on the supervision of credit rating agencies (2010); and the Regulation on the strengthening of economic and budgetary surveillance of Member States experiencing or threatened with serious difficulties with respect to their financial stability in the euro area (2012). 

Jean-Paul is an honorary member of the Bar at the Conseil d'État and the Cour de Cassation. From 1998 till 2007 he was a member of the Executive Board and Tax and Legal Director of Dexia Crédit Local. From 1973 till 1998 he worked as a lawyer and legal counsel in France.



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
Jean-Paul Gauzes EFRAG Board President
Serge Pattyn EFRAG Board Vice-President
Rosa Bruguera EFRAG Board Member
Patrick de Cambourg EFRAG Board Member
Angelo Casò EFRAG Board Member
Michael Fechner EFRAG Board Member
Sven Morich EFRAG Board Member
Søren Kok Olsen EFRAG Board Member
Gerhard Prachner EFRAG Board Member
Maria Dolores Urrea Sandoval EFRAG Board Member
Gerard van Santen EFRAG Board Member
Roman Sauer EFRAG Board Member
Olivier Scherer EFRAG Board Member
Anders Ullberg EFRAG Board Member
Ricardo Sánchez Fernández EFRAG Board Deputy
Kristian Koktvedgaard EFRAG Board Deputy
Elina Peill EFRAG Board Deputy