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FRC Opens Applications for UK GAAP Advisory Group
The FRC seeks up to 15 new members for its UK GAAP advisory group, with applications open through Oct. 4. The TAG influences future accounting standards.
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The Financial Reporting Council is looking for new members for its UK GAAP Technical Advisory Group. The TAG, as it is called, advises the FRC on how to develop and maintain UK accounting standards. It can have up to 15 members drawn from a range of sectors and backgrounds.
Applications opened Monday. The FRC said it wants people with experience in financial reporting, audit, or the preparation of accounts under UK and Ireland GAAP. Current members include partners from Big Four firms, finance directors at listed companies, and academics. The term runs three years, with the possibility of renewal.
The advisory group meets roughly four times a year, often in London. Topics on the agenda this year include the FRC's response to the International Accounting Standards Board's exposure draft on the future of goodwill and impairment, and the ongoing work on the UK's own version of the revenue recognition standard.