(1)

In accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 on the application of international accounting standards (1), an accounting technical committee should provide support and expertise to the Commission in the assessment of international accounting standards. The role of that accounting technical committee is fulfilled by the European Financial Reporting Advisory Group (EFRAG).

(2)

EFRAG was founded in 2001 by European organisations representing issuers, investors and the accountancy profession involved in the financial reporting process.

(3)

Following the reforms of EFRAG’s governance structure, EFRAG’s Supervisory Board includes four public policy members specifically selected on the basis of their experience in public policy making at either national or European level. In accordance with Section 3.2 of Appendix 1 to the EFRAG Statutes effective from 11 June 2009, it is for the Commission to nominate those public policy members. EFRAG’s Supervisory Board members are appointed by the EFRAG’s General Assembly.

(4)

After a public call for applications (2) the Commission has selected the candidates to be nominated as public policy member of EFRAG’s Supervisory Board.

(5)

By Commission Decision 2009/549/EC of 13 July 2009 nominating a public policy member of the Supervisory Board of the European Financial Reporting Advisory Group (3) one candidate has been nominated,