EFRAG (European Financial Reporting Advisory Group) is a body that advises the European Commission on questions relating to financial reporting and accounting regulation.
Erlend Kvaal, professor at BI’s Department of Accounting and Operations Management, has since January 2020 been a member of EFRAG TEG. The TEG group is the Technical Expert Group of EFRAG, who provides the board with expert advises in financial reporting matters. Simultaneously, he has been the chairman of the EFRAG academic panel since 2020 and is now reappointed to this position.
- I thus have two different roles in EFRAG. As a TEG member, I meet with European representatives for various industries, EU agencies, auditors and financial analytics. We have frequent meetings and a heavy workload. The academic panel is not a decision-making body and it meets only twice a year. Its task is to identify research that can be helpful for questions that are on the decision-makers´ agenda, says Kvaal.
The academic panel was established in 2017 and consists of 17 academics who are specialized in financial reporting. The members have strong knowledge in topics and aspects related to Europe. The academic panel of EFRAG aims to strengthen EFRAG´s relationship with the academic community. The panel supports EFRAG TEG and contributes to the debate on research projects, the scope of the projects, methodologies, tenders, and research papers sponsored or prepared by EFRAG.
Kvaal has served the academic panel since the panel was established in 2017. In a press release, EFRAG stated that Kvaal is highly valued and his continued commitment to bring technical advices of the highest quality to the board, are highly appreciated.