EFRAG is renewing its Rate-regulated Activities Working Group (EFRAG RRAWG) to support the endorsement process for a new IFRS Accounting Standard on regulatory assets and liabilities, expected to be published in late 2025. The group is seeking additional members, particularly from preparers and users, with expertise in rate-regulated environments and financial reporting.
Application Deadline: 15 December 2024
Objective of the EFRAG RRAWG
The EFRAG RRAWG has supported EFRAG for over ten years by providing technical advice on financial reporting issues arising from rate-regulated activities. The group offers specialist accounting expertise and knowledge of sectors subject to rate regulation, with a particular focus on the European context.
Membership Renewal
Following the completion of the IASB’s redeliberations of the 2021 Exposure Draft on Accounting for Regulatory Assets and Liabilities, the IASB will ballot a new IFRS Standard, expected to be issued in H2 2025. To facilitate the endorsement process of the new Standard, EFRAG is undertaking preliminary work and renewing the membership of the EFRAG RRAWG, with a particular focus on increasing membership from preparers and users.
Meeting Structure
The EFRAG RRAWG meets approximately four times annually, either physically in Brussels or virtually via webcast. Meetings typically last from a half-day to a full day, and physical meetings are organized to accommodate members’ travel schedules.
Member Requirements
Members should possess knowledge of the rate-regulated environment, technical expertise, and practical experience of rate-regulated activities and related financial reporting issues. A solid understanding of IFRS requirements is also necessary. The group aims for a balanced composition of preparers, auditors, users, academics, and standard-setters, while maintaining geographical balance. Members will be appointed in a personal capacity, and substitute attendance is not allowed.
Membership and Application Details
Current members are eligible for reappointment, subject to the overall balance of the group’s composition. The group will consist of approximately 20 members.
Applications (CV and cover letter) should be sent to nominations@efrag.org by 15 December 2024.
For more information [here]