The Trustees of the IFRS Foundation (the ‘Trustees’), responsible for the governance and oversight of the International Accounting Standards Board (IASB), announced today the appointment of three new members of the IFRS Advisory Council (the ‘Advisory Council’).
The Advisory Council is the formal advisory body to the Trustees and the IASB. It advises the IFRS Foundation on its strategic direction, technical work plan and priorities. Meetings with the IFRS Foundation are held three times a year.
The Advisory Council consists of a wide range of representatives from groups that are affected by, and interested in, the IASB‘s work. These include investors, financial analysts and other users of financial statements, as well as preparers, academics, auditors, regulators, professional accounting bodies and standard-setters.
The new Advisory Council members are:
- Olav Jones—Insurance Europe;
- Anne Simpson—Council of Institutional Investors; and
- Surya Subramanian—Emirates NBD.
The new appointments commence with immediate effect and represent the second tranche of appointments for 2014, with two remaining appointments to be announced in due course.
Commenting on the announcement, Robert Glauber, Chairman of the Trustees’ Nominating Committee said:
“The role of the Advisory Council is to ensure that key stakeholders in the future of financial reporting maintain a strong voice with which to advise the IASB and the Trustees. This is an important function and I would like to thank both the previous members for their invaluable contribution and the new members for agreeing to play a part in our work.”
Further information on the Advisory Council can be found here.