Ward’s new role was announced at the federation’s conference in Edinburgh. President elect of the English ICA, he said the UK has a leading role to play in shaping international accounting and auditing standards.
IFAC also named Tsuguoki (Aki) Fujinuma of Japan as its president and Rene Ricol of France deputy president.
Fujinuma, formerly deputy president, is a senior audit partner at Showa Ota & Co, a member of Ernst & Young International. He takes over from Frank Harding. Ricol is president of his own firm, Ricol, Lasteyrie and Associates. IFAC said the two would serve a two-year term, beginning this month.
The moves came as members of IFAC approved a major internal restructuring in order to have a more ‘effective, efficient management structure.’
Its council has been disbanded and replaced by a board. Fujinuma, said: ‘The restructuring is aimed at achieving consistency. Firms that want to be members must fulfil obligations to comply with international standards and accept quality control reviews.’
Accountancy bodies from Russia, Macedonia, the Ukraine, Albania, Finland and Kazakstan were also admitted to IFAC, bringing its total membership to more than 150 professional groups.
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