Committee of European Securities Regulators (CESR)

CESR is an independent Committee of European Securities Regulators. The role of the Committee and its operational arrangements are set out in the CESR Charter.

The Committee was established under the terms of the European Commission's Decision of 6 June 2001 (2001/527/EC)

European Financial Reporting Advisory Group (EFRAG)

The European Financial Reporting Advisory Group (EFRAG) has been created by the main parties interested in financial reporting in Europe, namely the users, the preparers, and the accountancy profession, (supported by the national standard setters).

This private sector initiative has been warmly welcomed by the European Commission and will support the adoption in Europe of IAS by 2005.

EFRAG, has as its main aim to give a pro-active contribution to the work of IASB (International Accounting Standards Board). EFRAG will also advise on the technical assessment of the IASB standards and interpretations for application in Europe.