Nominations Sought for Membership of a Consultative Group on the Methodology for Fieldwork and Effects Analyses

Sarah Woodman, Global events journalist
July 27, 2012 /

The International Accounting Standards Board (IASB) invites nominations of suitable candidates for membership of a consultative group on fieldwork and effects analyses.

In their February 2012 report Strategy Review 2011, the Trustees of the IFRS Foundation recommended the establishment of a working group from the international community, to be chaired by the IASB, to develop an agreed methodology for fieldwork (including field testing and visits) and effect analyses.

In that report, the Trustees noted that fieldwork and effect analyses are now considered best practice in the establishment of regulations. These activities form a regular part of the IASB’s standard-setting activity. However, the Trustees believe that the IASB should better define how such activities are carried out by bringing together an external group to help the IASB develop an agreed methodology.

Many jurisdictions have regulatory impact assessment or cost-benefit analysis requirements. A primary objective of the consultative group will be to help the IASB identify the extent to which it can, and should, meet the needs of bodies responsible for the endorsement of IFRSs in their jurisdictions with respect to effects analysis. The effect analysis presented by the IASB may relieve the endorsement bodies from having to perform any additional analysis, relying instead on the work of the IASB.

The group is an advisory body formed to assist the IASB, in consultation with the Trustees, to develop a methodology for fieldwork and effect analyses. The terms of reference will focus on the following areas:

i. Members of the group will provide information on, and an assessment of, fieldwork and effect analyses methodologies that are used currently and whether and, if so, how they might be applied to the IASB’s standard-setting activities, together with advice on the most appropriate methodology (or methodologies) that might be used.
ii. The group will be asked for its advice on any fieldwork and effects analyses on any projects on the current IASB Work Plan and the lessons that might be learned in the development of an appropriate methodology.
iii. The group’s advice should also be sought on identifying and managing expectations regarding the scope of effect analyses, given that some parties believe that the scope of effects should go much wider and take into account macro-economic effects such as financial stability impacts. The Foundation’s draft Due Process Handbook (paragraph 3.72) makes clear that the likely effects of any new or revised IFRSs should be assessed (a) in the light of the IASB’s objective of financial reporting transparency; and (b) in comparison to the existing financial reporting requirements.

The IASB anticipates that the consultative group will have between 12 and 20 members. Candidates for membership are expected to have a good knowledge of and experience in financial reporting and relevant practical experience in areas within the remit i.e. in conducting fieldwork/assessing the effects of financial reporting requirements. The IASB is seeking candidates from all geographical areas and from a range of backgrounds. Candidates should explain how they meet these requirements.

In line with the IFRS Foundation’s usual policy, members of the consultative group will serve on a voluntary, unpaid basis.

Meetings will be physical meetings to the largest degree possible, but the IASB will aim to provide facilities to allow participation by video link or telephone. We anticipate that this would be a consultative group with a limited lifespan (9 months to a year), with a maximum of 4 to 5 meetings, held approximately every 2 months.

Nominations and applications are invited by 14 September 2012 to Zoe Collyer, email


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