The Emerging Economies Group (EEG) was created in 2011 at the direction of the IFRS Foundation Trustees, with the aim of enhancing the participation of emerging economies in the development of IFRS Standards.
The EEG focuses on issues around the application and implementation of IFRS Standards in emerging economies. In addition, the group may also consider if, and how, the Board could provide educational guidance at the right level for interested parties in emerging economies and what the best delivery system for this would be. However, the remit of the EEG may evolve over time.
Topics for discussion are selected by the Chair and Vice-Chair, with the advice of EEG members. Possible topics include common control transactions and issues surrounding foreign currency translation, for instance.
The EEG generally holds two meetings each year, which will take place in one of the member countries. Host countries carry the organisational costs of the meeting. However, group members are responsible for their own travel and accommodation costs. The EEG secretariat is based in Beijing.