The European Financial Reporting Advisory Group (EFRAG) board has made the last three appointments to its Technical Expert Group (TEG) which took office on 1 April 2015, confirming a heavy presence of Big Four staff in the TEG.
EFRAG TEG provides the board with technical advice and counts a maximum of 16 members which at least four are nominated by the standard setters of France, Germany, Italy and the UK.
The EFRAG board announced most of the new appointments at the end of 2014, but made three last appointments at the end of March.
The last three members to be appointed are: ThyssenKrupp AG head of corporate centre accounting & financial reporting Heinz Hense, EY Italy partner Ambrogio Virgilio and Deloitte London IFRS centre of excellence partner Andrew Spooner.
While Hense and Virgilio appointments are immediate, Spooner will only take office on 1 June 2015 replacing Joanna Frykowska, an executive director at EY who will step down from her role at EFRAG TEG.
The new EFRAG TEG team is made of 12 members, five of which come from the Big Four, two from mid-tier practices, four from industry and one academic.
As of 1 April the EFRAG members are:
- Françoise Flores (France), former partner at Mazars – chairman
- Mike Ashley (UK), former KPMG Europe head of risk management and current chair of the audit committee of Barclays PLc – vice- chairman
- Phil Aspin (UK), deputy treasurer at United Utilities Group
- Christian Chiarasini (France), senior advisor to EY since his retirement from EY partnership in July 2013
- Geert Ewalts (the Netherlands), head of IFRS policies at Aegon NV
- Günther Gebhardt (Germany), academic at Wolfgang Goethe University
- Joanna Frykowska (Poland), EY executive director – she will be replaced on 1 June 2015 by Andrew Spooner (UK), Deloitte partner
- Nicklas Grip (Sweden), senior vice-president of group finance at Svenska Handelsbanken
- Heinz Hense (Germany), head of corporate centre accounting & financial reporting at ThyssenKrupp AG
- Serge Pattyn (Belgium), partner at Emerio
- Andrea Toselli (Italy), national technical partner at PwC Italy
- Ambrogio Virgilio (Itlay), EY partner