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27/05/2016 - Call for new members of the EFRAG Financial Instruments Working Group

​EFRAG has decided to renew the membership of the Financial Instruments Working Group (EFRAG FIWG).

​EFRAG has benefited from a Financial Instruments Working Group (EFRAG FIWG) for many years. The role of the EFRAG FIWG is to support EFRAG TEG in providing its technical advice to the EFRAG Board on the development of IFRS and IFRS Interpretations on financial instrument-specific matters and their application in Europe.

The existing membership of the EFRAG FIWG has been in place for almost four years. Over that time some of the members have indicated that they are no longer available to continue in this role and some vacancies have arisen. In addition, Andrew Spooner, EFRAG TEG member, has recently been appointed as Chairman of EFRAG FIWG. Therefore EFRAG has decided to renew the composition of the EFRAG FIWG and a call for applicants is launched.

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

Members of the EFRAG FIWG should have strong technical expertise on financial instruments reporting matters as well as more general IFRS issues and practice. The selection of members will aim to ensure a good mix of different professional backgrounds, e.g. preparers, auditors, risk management specialists, 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 group is limited to 16 members.

Given the IASB’s agenda EFRAG FIWG will be particularly focussed in the coming years on macro-hedging and on financial instruments with the characteristics of equity (FICE). EFRAG will give priority to candidates who can demonstrate experience with these issues or involvement in these debates.

The Terms of Reference can be downloaded here.

Applications, in the form of a CV and a covering letter, should be sent to EFRAG at no later than 30 June 2016.