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Trustees announcement regarding the IFRS Advisory Council membership

24 Jun 2011

The membership terms for the IFRS Advisory Council are set to expire on December 2011. The Trustees of the IFRS Foundation has announced its plans regarding the future of the IFRS Advisory Council's memberships.

The Trustees have agreed to extend the terms of the Advisory Council leadership. Chair Paul Cherry's term is extended two years, ending on 31 December 2013; vice chair Charles Macek's term is extend three years, ending in December 2014; and vice chair Patrice Marteau's term is extend one year, ending December 2012. In addition, the Trustees have agreed to keep the current representative membership model with some minor modifications. These modifications are (1) inviting regional standard-setting bodies; (2) more participation from academia, other internationally recognised professional bodies interested in financial reporting, and SME community; and (3) greater participation from developing markets and other economies adopting IFRS.

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