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30/05/2016 - Call for new members of the EFRAG Insurance Accounting Working Group

​EFRAG has decided to renew the membership of the Insurance Accounting Working Group (EFRAG IAWG).

​EFRAG has benefited from an Insurance Accounting Working Group (EFRAG IAWG) since it started its activities 15 years ago. The EFRAG IAWG brings invaluable expertise to EFRAG TEG. The role of the EFRAG IAWG is to support EFRAG TEG in providing its technical advice to the EFRAG Board on the development of IFRS and IFRS Interpretations on insurance specific matters and their application in Europe.

The existing membership was established some years ago. Over that time some members have indicated that they are no longer available to continue in this role and some vacancies have arisen. Therefore, EFRAG has decided to renew the composition of the EFRAG IAWG and a call for applicants is launched.

The EFRAG IAWG meets for one day every three months (or more or less frequently as necessary) in Brussels. Meetings are organised so as to enable most members to travel to and from Brussels on the same day.

Members of the EFRAG IAWG should have strong technical expertise on insurance accounting and preferably good knowledge of financial instruments accounting and  IFRS in general. The selection of members will aim to ensure a good mix of different professional backgrounds, e.g. preparers, auditors, actuaries, users, academics, and standard setters. A geographical balance will also be respected. Members are appointed in a personal capacity, no substitute is allowed.

All current members are eligible for reappointment.

The size of the EFRAG IAWG is limited to 16 members.

The IASB has entered the final stages of deliberations on a new insurance standard. The focus of the EFRAG IAWG is expected to be on helping to ensure the final standard is clear and operational and, in due course, providing advice to the EFRAG TEG in connection with the endorsement advice process. EFRAG will give therefore priority to candidates who can demonstrate familiarity with the IASB’s insurance project and strong knowledge of the insurance sector.

The Terms of Reference can be downloaded here.

Applications, together with a CV and letter of motivation, should be sent to EFRAG at no later than 30 June 2016.