The Standards Advisory Council (SAC) of the International Accounting Standards Board  (IASB)provides a forum where the IASB consults individuals, and representatives of organisations affected by its work, that are committed to the development of high quality International Financial Reporting Standards (IFRSs).

As part of that consultative process the SAC gives advice to the IASB on a range of issues which includes, but is not limited to, the following:

• input on the IASB’s agenda;
• input on the IASB’s project timetable (work programme) including project priorities, and consultation on any changes in agenda and priorities; and
• advice on projects, with particular emphasis on practical application and implementation issues, including matters relating to existing standards that may warrant consideration by the International Financial Reporting Interpretations Committee.

The SAC also supports the IASB in the promotion and adoption of IFRSs throughout the world. This may include the publishing of articles supportive of IFRSs and addressing public meetings on the same subject. Any such views expressed are personal, and should not create the impression that they are the opinions of the SAC.

In October 2005, the Trustees of the IASC Foundation announced the membership of the restructured SAC. The new structure completes the steps taken by the Trustees to encourage the SAC to be a more effective source of advice both to the Trustees and to the IASB. The membership of the SAC provides for a broad geographical spread and a range of functional backgrounds that include members drawn from user groups, preparers, financial analysts, academics, auditors, regulators and professional accounting bodies.

Please follow this link to view the SAC’s Terms of Reference and Operating Procedures.