The objective of ASAF is to provide an advisory forum in which members can constructively contribute towards the achievement of the Board’s goal of developing globally accepted high-quality accounting standards. More particularly, the ASAF is established to:
support the IFRS Foundation in its objectives, and contribute towards the development, in the public interest, of a single set of high quality understandable, enforceable and globally accepted financial reporting standards to serve investors and other market participants in making informed resource allocations and other economic decisions;
formalise and streamline the Board’s collective engagement with the global community of national standard-setters and regional bodies in its standard-setting process to ensure that a broad range of national and regional input on major technical issues related to the Board’s standard-setting activities are discussed and considered; and
facilitate effective technical discussions on standard-setting issues, primarily on the Board’s work plan, but which may include other issues that have major implications for the Board’s work, in sufficient depth, with representatives at a high level of professional capability and with a good knowledge of their jurisdictions/regions.
ASAF generally meets four times a year for two days, normally in London.
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