RegulationAccounting StandardsHoogervorst named as new IASB chair

Hoogervorst named as new IASB chair

Chief Dutch financial regulator Hans Hoogervorst named as chairman of the IASB while UK standard setter Ian Mackintosh has been appointed vice-chairman

Hans Hoogervorst

Sir David Tweedie, head of the International Accounting Standards Board, will
be succeeded by Hans Hoogervorst, current chairman of the Netherlands markets
regulator.

He will be supported by Ian Mackintosh, current head of the UK Accounting
Standards Board, who was named vice chairman. Sir David is due to step down in
June 2011.

Hoogervorst’s appointment was immediately welcomed by Europe. European
Commission of internal markets, Michel Barnier, Hoogervorst’s background
experience as a minister and markets supervisor gave him “a good understanding
for the broader international context in which the IASB operates”.

“I look forward to working with Hans and with the IFRS Foundation’s Trustees
in order to continue strengthening the governance and accountability of the
IASB. I have full confidence that Hans understands the importance of continuing
to make progress in this direction.”

Hoogervorst currently chairs the IASB’s supreme oversight body, the
monitoring board, comprised of regulators from Japan, Europe, America and
Malaysia. The monitoring board were consulted before the final decision.

He also chairs the technical committee at the International Organization of
Securities Commissions (IOSCO) and is co-chair of the Financial Crisis Advisory
Group.

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