Xerox chief accountant appointed to the IASB

XEROX CORPORATION'S top accountant has been appointed to the IASB, its oversight body has said.

The trustees of the IFRS Foundation named Gary Kabureck as a member of the global accounting standards setter for an initial term ending 30 June 2017, renewable for a further three years.

Kabureck, Xerox's chief accounting officer since 2001, will join the IASB in April. Kabureck is responsible for both IFRS and US GAAP accounting processes and a team of more than 1,200 accountants worldwide. His professional career began at PwC in 1975, where he worked for ten years.

Kabureck also serves on a range of other advisory boards, including those to the Public Company Accounting Oversight Board (PCAOB) and previously the US Financial Accounting Standards Board (FASB).

Commenting on the appointment, Hans Hoogervorst, chairman of the IASB, said: "Gary is a well-known and much-admired member of the global financial reporting community. His deep-rooted conceptual knowledge of accounting will be immensely helpful to us as we consider the meaty topics of the conceptual framework and a range of other projects."