New ASB Board meets for the first time on 12 April 2024

We are delighted to welcome the following new members to the Accounting Standards Board:

• Ms Annalien Carstens
• Mr Sandiso Gcwabe
• Mr Aziz Hardien
• Ms Lebogang Senne
• Professor Rashied Small

Read more about them and the returning members on the ASB website. Look out for feature articles on each of our new members in coming weeks.

First meeting on 12 April 2024

Congratulations to Andrew van der Burgh, who was unanimously voted as the new Chair of the ASB.

Other important discussions at the meeting included:

• Reviewing the results of the post-implementation review of GRAP 109 Accounting by Principals and Agents. The Board agreed on the next steps in the project. These include developing an Exposure Draft that proposes amendments to GRAP 109 and FAQs.
• Approving an Exposure Draft on Amendments to Directive 5 Determining the GRAP Reporting Framework. The proposals include (a) distinguishing new Standards of GRAP from amendments to Standards of GRAP and clarifying how each are to be considered in the reporting framework, and (b) clarifying the international pronouncements that may be considered in developing accounting policies as part of the GRAP reporting framework.