Dutch Chairman for IASB
Hans Hoogervorst has been appointed as the Chairman of the IASB (International Accounting Standards Board). Ian Mackintosh will be acting as the Vice Chairman.
Hoogervorst will be taking over from Sir Tweedie, who is the present Chairman of the IASB. Sir Tweedie will be retiring at the end of his term in June 2011.
Hoogervorst is currently the Chairman of the Netherlands Authority for the financial markets and the Dutch securities and market regulator.
Hoogervorst is also the Chairman of the technical committee of the International Organization of Securities Commissions and Co-Chairman of the Financial Crisis Advisory Group, which is a body to advise standard-setters on how to respond to crisis.
Hoogervorst is expected to step down from all of the above posts.
Ian Mackintosh is currently the Chairman of UK’s ASB (Accounting Standards Board) as well as the former Chief Accountant of the Australian Securities and Investment Commission.
All the appointments come at the end of a search that went on at the international level for nearly the whole of the past year.
Tommaso Padoa-Schioppa, who is the Chairman of the Trustees of the IFRS Foundation, which is the oversight body of the IASB, said in a statement to the media that he was delighted that the appointments have been made in due time for the next financial year when the present Chairman of the board will be retiring.
Padoa-Schioppa further added that the Trustees were also delighted about the fact that the board has succeeded in identifying a strong team that will successfully be able to lead the IASB into its second decade.
The FRC (Financial Reporting Council) said in a statement that it “expects to appoint an interim chairman in the near future and a further announcement will be made in due course.”