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19/01/2017 - EFRAG calls for new members of its EFRAG Rate-regulated Activities Working Group

​EFRAG has decided to renew the membership of its Rate-regulated Activities Working Group (EFRAG RRAWG).

​EFRAG has benefited from its Rate-regulated Activities Working Group (EFRAG RRAWG) for over three years. The EFRAG RRAWG supports EFRAG TEG in providing technical advice to the EFRAG Board on the financial reporting issues arising from rate-regulated activities. The EFRAG RRAWG contributes specialist accounting expertise along with knowledge of the industry sectors subject to rate-regulation, with an emphasis on specific European circumstances.

The existing membership of the EFRAG RRAWG has been in place since the Group was established. 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. Moreover, the IASB is expected to publish a Discussion Paper late in 2017 or early 2018. Therefore EFRAG has decided to renew the composition of the EFRAG RRAWG and a call for applicants is launched.

The EFRAG RRAWG is expected to meet four times annually (or more or less frequently as necessary) in Brussels, with meetings lasting one day. Meetings will be organised so as to enable most members to travel to and from Brussels on the same day.

Members of the EFRAG RRAWG should have good knowledge of the rate-regulated environment, specific technical expertise and practical experience of rate-regulated activities and the related financial reporting issues, along with a sound understanding of 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, users, academics and standard-setters. A geographical balance will also be respected. Members are appointed in a personal capacity, no substitute is allowed.

Current members are eligible for reappointment, taking into account a balanced overall composition of the EFRAG RRAWG.

The size of the group is limited to 16 members.

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 20 February 2017.