Ronald Arculli Appointed As a Trustee of the IFRS Foundation
The Trustees of the IFRS Foundation has appointed Ronald Arculli to serve as a Trustee.
The IFRS Foundation, through the IASB, is committed to developing, in the public interest, a single set of high-quality global accounting standards that require transparent and comparable information in general purpose financial statements.
The Trustees of the IFRS Foundation promote the work of the IASB and the rigorous application of IFRSs.
Mr Arculli is a highly regarded business leader in Hong Kong. He serves as Chairman of Hong Kong Exchanges and Clearing Limited (operators of the Hong Kong Stock Exchange) and Chairman of the World Federation of Exchanges, the international association of stock exchanges.
He is also a Member of the Executive Council of the Hong Kong Government.
Mr Arculli holds an Honorary Doctor of Laws degree from the Hong Kong University of Science and Technology and an Honorary Doctor of Social Sciences degree from City University, Hong Kong.
He is a solicitor by profession and was called to the Bar in both London and Hong Kong in 1961.
The appointment, approved by the IFRS Foundation Monitoring Board, begins immediately and will expire on 31 December 2014. The term is renewable once.
Commenting on the appointments, Robert Glauber, Chairman of the Trustees’ Nominating Committee, said: “Hong Kong is one of the largest financial centres in the world and an important stakeholder in the IFRS project. As Chairman of both the Hong Kong Stock Exchange and the World Federation of Exchanges, Ronald’s valuable insights will greatly assist the work of the Trustees to ensure that IFRSs meet the needs of investors on a global basis.”
Ronald Arculli said: “It is an immense honour and privilege to serve as a Trustee of the IFRS Foundation. I look forward to participating in the tremendously important public and global mission undertaken by the Foundation, which underpins the confidence of all stakeholders in financial markets.”