A World Bank vice president and a UK-based standard setter are among
candidates in contention for the chairmanship of the International Accounting
Standards Board (IASB), Accountancy Age has learned.
Ian Mackintosh, current chairman of the UK Accounting Standards Board (ASB),
and Fayezul Choudhury, controller and vice president of strategic resource
management at the World Bank, are understood to be on the shortlist of
candidates in the running to chair the IASB.
The IASB trustees are expected to be presented with a shortlist of candidates
in July. The successful candidate is likely to reflect the growing political
considerations which have become part of the role as international standards
spread across the world.
New Zealand-born Mackintosh made a name for himself as chief accountant of
the Australian Securities and Investment Commission and recently challenged the
IASB’s position on derecognition rules.
His Australian origins are being seen as an asset. Australia was the first
country to adopt IFRS and South East Asia is emerging as a force in global
However his career trajectory is similar to current chairman Sir David
Tweedie, who was also the chair of the ASB. Trustees will be mindful that
another UK-based appointment may erode the IASB’s international mandate.
Mackintosh declined to comment when asked whether he was being considered for
Choudhury’s international credentials at the World Bank will also work in his
favour. Choudhury has also chaired the International Steering Committee of the
International Forum for Accountancy Development and was a member of the
Standards Advisory Council of the IASB.
When asked about his candidature, Choudhury said he had not applied for the
position but “would expect that the trustees are tapping various sources for
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