David Loweth Appointed As Director for Trustee Activities

Jack Humphrey, Regulatory journalist
February 07, 2012 /

The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), has appointed David Loweth as Director for Trustee Activities.

Mr Loweth currently serves as Technical Director of the United Kingdom (UK) Accounting Standards Board (ASB).

The Trustees have created the role of Director for Trustee Activities in response to the preliminary conclusions of their review of the strategy of the IFRS Foundation. The review called for higher levels of engagement and transparency between the IASB and the Trustees, particularly in the area of due process oversight.

The review also recommends clearer separation of the roles and responsibilities of the Foundation and of the IASB. Mr Loweth will support the work of the Trustees as they fulfil these enhanced responsibilities.

Before joining the UK ASB in 2004, Mr Loweth held various senior roles in the UK Treasury. He holds a Degree in Modern History from Oxford University and an MA in Finance and Accounting from Leeds Metropolitan University.

Commenting on the appointment, Michel Prada, Chairman of the Trustees said: “David is a well-known and a highly-respected figure in financial reporting circles, having represented the UK in various European and international accounting forums.

“His appointment will greatly assist the Trustees to fully discharge their constitutional responsibilities and will bring enhanced transparency and vigour to the oversight of the standard-setting process.”

 

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