A Working Group will be formed when an issue is accepted by FRSIC for issuance of consensus.

Each Working Group comprises of practitioners, regulators and industry players relevant to the issue being undertaken. FRSIC will appoint a Project Manager who needs to be a qualified person in the technicalities of the financial reporting, to lead the respective Working Group.

The duties of the Working Groups are to discuss the issue in detail, reach a consensus on the core principles of the issue, and draft consensus for FRSIC's deliberation and consideration.