EFRAG General Assembly

Role of the EFRAG General Assembly

Alongside fulfilling the legal requirements under the Belgian law for international associations and deciding over the statutes, internal rules and membership of EFRAG, the EFRAG General Assembly is in charge of:

• Approving the financial statements and the budget of next year.
• Appointing the President, Vice-President and members of the EFRAG Administrative Board.
• Appointing the Chairs, Vice-Chairs and members of the EFRAG Financial Reporting Board and the EFRAG Sustainability Reporting Board. The Chairs of the EFRAG Financial Reporting Board and the EFRAG Sustainability Reporting Board are nominated by the European Commission after having heard the Council of the European Union and the European Parliament.
• Providing a Discussion Forum for EFRAG Member Organisations to debate on strategy and broader orientations.
• Exercising general oversight over the EFRAG Administrative Board. Please refer to the legal section for the comprehensive texts of the EFRAG by-laws (Statutes and Internal Rules).

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Composition of the General Assembly

EFRAG’s activities are organised in two pillars:

• A Financial Reporting Pillar which contributes to the IASB’s standard-setting process by providing European views, including through proactive research activities, and provides technical advice to the European Commission on the endorsement of IFRS Standards; and 
• A Sustainability Reporting Pillar which provides technical advice to the European Commission in the form of draft EU Sustainability Reporting Standards and/or draft amendments to EU Sustainability Reporting Standards.

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Financial Reporting Pillar

European Stakeholder Organisations

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National Organisations (countries)

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Sustainability Reporting Pillar

European Stakeholder Organisations

National Organisations (countries)

NGOs

Consumer Organisations 

Trade Unions

Academics

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EFRAG Administrative Board

The EFRAG Administrative Board is responsible for EFRAG’s organisation, administration, finance and due process encompassing both the Financial reporting and Sustainability reporting pillars. It is not involved in technical activities or positions.

To carry out its tasks in accordance with the EFRAG Internal Rules, the EFRAG Administrative Board relies on the advice received from committees populated from within the EFRAG Administrative Board: the EFRAG Administrative Board Audit, Budget and Risk Committee, the EFRAG Administrative Board Nominating Committee, the EFRAG Administrative Board Remuneration Committee, and the EFRAG Administrative Board Due Process Committee.

The composition of the EFRAG Administrative Board is as follows:

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Friends of EFRAG

EFRAG introduces the Friends of EFRAG whereby entities can give their individual support to EFRAG’s mission and support EFRAG’s reporting activities. 

• Download the brochure Friends of EFRAG - Sustainability Reporting & access the online aplication form
  

• Download the brochure Friends of EFRAG - Financial Reporting & access the online application form

​Angela Impact Economy	​
​General Electric	​
World Business Council for Sustainable Development	​
​ osapiens	​
​ SIBS	​
​ Greenomy	​
​GSES System	​
​Karbonpath	​
CSRD Auditor	​
Baker Hughes​	​
Code Gaia​	​
​ CLEERIT	​
ROSE Framework	​
IntegrityNext​	​
Watershed​	​
SustainSoft​	​
Atlas Metrics	​
Boston Consulting Group​	​
Brightest ​	​
ClimateSeed​	​
Ecobio​	​
Ecocharting​	​
Lucanet​	​
Nordic Sustainability ​	​
Novata​	​
Sunhat​	​
SWEEP​	​