Sebastien Harushimana
EFRAG FR TEG Chair
Sébastien Harushimana has extensive technical expertise gained over 25 years of experience in international accounting, mainly IFRS, US GAAP, IPSAS and other local GAAPs such as Belgian GAAP and UK/Irish GAAP.
Since July 2023 and until his appointment as EFRAG FR TEG Chair, Sébastien was serving as Managing Director for PwC Belgium, leading corporate reporting services for the Capital Markets and Accounting Advisory Services (CMAAS) of PwC and the IFRS technical team of PwC. He has been teaching IFRS as a guest co-lecturer at the University of Liège since 2008. Sébastien is a fellow member of the Association of Chartered Certified Accountants (ACCA).
From September 2015 to June 2023, after returning from a Senior Technical Manager role at EFRAG, Sébastien served as a Director for PwC Belgium, leading accounting consulting services and advising government institutions, CFOs of various entities, including multinational industrial, manufacturing and financial institutions.
At EFRAG, Sébastien served as a Senior Technical Manager, from January 2014 to August 2015, as part of the Financial Instruments team, focusing primarily on the IFRS 9 Financial Instruments and the IFRS 17 Insurance projects. He successfully completed the work relating to IFRS 9 with an endorsement advice letter sent to the European Commission concluding that the standard was conducive to the European public good.
From March 2006 to December 2013, Sébastien worked as a Senior Manager at PwC Belgium , starting first in the audit department in charge of large US multinationals audits and SOX procedures, then moving to the accounting advisory services in CMAAS department in 2007.
From July 2001 to February 2006, Sébastien worked as a Senior Auditor for Russell Brennan Kean (RBK), in Ireland. He was responsible for the preparation and audit of financial statements under UK/Irish GAAP, the preparation of personal, corporate and capital gains tax computations under Irish taxation law and the preparation of VAT, PAYE (pay as you earn) and capital gains tax returns.
Fom August 1997 to September 1999, Sébastien worked as a Trainee Accountant for BDO Zambia, responsible for the preparation of financial statements under UK GAAP, variance analysis, and executing audits, due diligence and taxation under the supervision of the Principal Partner.
EFRAG Financial Reporting Technical Expert Group (EFRAG FR TEG)
Areas of interest in this section:
Role of the EFRAG Financial Reporting Technical Expert Group (EFRAG FR TEG)
EFRAG FR TEG is responsible for providing the EFRAG Financial Reporting Board with expert advice in financial reporting matters. EFRAG FR TEG advice takes the form of recommended positions, either in draft form to support public consultation or in final form after having duly considered all input received through EFRAG's due process.
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Composition of EFRAG FR TEG
EFRAG FR TEG is composed of up to twenty two members, three of which being nominated by the National Standard Setters of France, Germany and Italy to act as a strong liaison between EFRAG TEG and their national constituencies , others being selected on the basis of professional expertise and competence only whilst aiming for a proper professional background, geographical and gender balance. The EFRAG FR TEG members devote 15 to 20% of their time - free of charge - to EFRAG, except for its Chair who is employed by EFRAG. The European Supervisory Authorities, the European Central Bank (ECB), the European Commission and the IASB attend EFRAG FR TEG meetings as observers.
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Appointments to EFRAG FR TEG
The EFRAG FR TEG members (other than the liaison members) are appointed through a formal process after an open call for candidates is launched every year to support rotation among the members selected solely on the basis of their professional expertise and competence. Yearly rotations are meant, not only to bring the relevant level of knowledge and experience, but also to establish a broad balance in geographical and professional backgrounds. As a result, the EFRAG FR TEG is composed of a mix of preparers, auditors, users of financial reporting and academics, so as to ensure its deliberations and conclusions are independent and not unduly influenced by any interest group of constituency. Members of EFRAG TEG commit to act independently in the European public interest and not to consider themselves as representing sectorial or national interests. This also applies to EFRAG FR TEG members nominated as liaison with National Standard Setters.
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How EFRAG FR TEG operates
EFRAG FR TEG benefits from expert advice in specialist areas provided by working groups it establishes as see fit for its purposes under the oversight of the EFRAG Financial Reporting Board. Currently EFRAG FR TEG benefits from the expert advice of the EFRAG Financial Instruments Working Group, the EFRAG Insurance Accounting Working Group, the EFRAG Rate-Regulated Activities Working Group, the EFRAG Pension Plans Advisory Panel and the EFRAG Advisory Panel on Intangibles. Essential to the work of EFRAG FR TEG is the input received from the EFRAG User Panel and more generally of EFRAG's outreach efforts to users. EFRAG operates an Academic Panel through which it gets valuable input of the academic community. EFRAG FR TEG also works closely with all National Standard Setters in Europe, meeting with them every three months in the EFRAG Financial Reporting Consultative Forum of Standard Setters (EFRAG FR CFSS), and by working with them and the IASB to organise and conduct public hearings and field tests in accordance with EFRAG's field work policy.
The EFRAG FR TEG has the following official observers: European Commission; ECB (European Central Bank) - Kallol Sen; EBA (European Banking Authority) - Raquel Maria de Sousa Ferreira and Anna Lasak; EIOPA (European Insurance and Occupational Pensions Authority) - Sandra Hack and Miguel Caballero; and ESMA (European Securities and Markets Authority) - Alessandro d'Eri and Timofei Karnaoukh.
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Membership in EFRAG FR TEG
The current Members of the EFRAG FR TEG are (please click on Members' names to view their profiles):
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| Name | Job title |
|---|---|
| Sebastien Harushimana | EFRAG FR TEG Chair |
| Jens Berger | EFRAG FR TEG Vice-Chair |
| Tommaso Fabi | EFRAG FR TEG Member - Country liaison Italy, OIC |
| Carmen Barrasa | EFRAG FR TEG Member |
| Ilka Canitz | EFRAG FR TEG Member - Country liaison Germany, ASCG |
| Aranzazu Leo Abad | EFRAG FR TEG Member |
| Dennis Jullens | EFRAG FR TEG Member |
| Andrea Lionzo | EFRAG FR TEG Member - Academic, Italy |
| An Lommers | EFRAG FR TEG Member |
| Pierre Martin | EFRAG FR TEG Member - Country liaison France, ANC |
| Malgorzata Matusewicz | EFRAG FR TEG Member |
| Pierre Phan van Phi | EFRAG FR TEG Member |
| David Procházka | EFRAG FR TEG Member |
| Christoph Schauerte | EFRAG FR TEG Member |
| Massimo Tosoni | EFRAG FR TEG Member |
| Peter Ujvari | EFRAG FR TEG Member |
