The International Accounting Standards Committee (IASC) foundation has appointed three trustees, marking the completion of an international search and and carrying the support of the Trustee Appointments Advisory Group.

The three trustees are Robert Glauber, retired chairman and chief executive officer of NASD, the private sector regulator of the US securities market, and former under secretary of the US treasury for finance; Pedro Malan, former Brazilian finance minister and central bank of Brazil president, currently Unibanco chairman; and Luigi Spaventa, former chairman of the Commissione Nazionale per le Società e la Borsa (Consob) and former Italian budget minister.

Gerrit Zalm, chairman of the trustees, said the trustees were playing an important role in encouraging the adoption of International Financial Reporting Standards and ensuring the public accountability of the organisation.

The new trustees will fill the vacancies created by the retirement of William McDonough of the US, Roberto Teixeira da Costa of Brazil and Kees Storm of the Netherlands, respectively.