IASB Board membership
IASB Board requirements
The IASB currently has 14 board members, of whom one is appointed as Chair and up to two as Vice-Chairs. Up to three members may be ‘part-time’ members. IASB members are appointed for an initial term of five years, renewable for one further term of three years (five years in the case of members appointed before 2 July 2009). The Chair and Vice-Chairs may serve second terms of five years, subject to an overall maximum term of ten years.
In 2015, the Trustees intend to start their next review of the structure and effectiveness of the IFRS Foundation, with one particular area to be examined being the optimum size of the IASB. As part of the 2015 Constitution review, the Trustees intend to seek public input on the appropriate size of the IASB, while continuing to maintain geographical balance.
To ensure a broad international diversity, from July 2012 there will normally be four members from the Asia/Oceania region; four from Europe; four from North America; one each from Africa and South America; and two appointed from any area, subject to maintaining overall geographical balance.
Board member qualifications
The main qualification for membership is professional competence and practical experience. The group is required to represent the best available combination of technical expertise and diversity of international business and market experience.More specific criteria for the selection of board members are detailed in the annex to IFRS Foundation Constitution:
- Demonstrated technical competency and knowledge of financial accounting and reporting
- Ability to analyse
- Communication skills
- Judicious decision-making
- Awareness of the financial reporting environment
- Ability to work in a collegial atmosphere
- Integrity, objectivity, and discipline
- Commitment to the IFRS Foundation's mission and public interest.
Current IASB members
The table below summarises the current composition of the IASB. Biographies for each member are set out below the table and can be accessed by scrolling, or clicking on the person's name in the table.
|Board member||Term began||Term ends*||Region|
|Hans Hoogervorst (Chair)||July 2011||June 2016*||'At large'|
|Ian Mackintosh (Vice-Chair)||July 2011||June 2016*||Asia-Oceania|
|Stephen Cooper||August 2007||July 2017||Europe|
|Philippe Danjou||November 2006||June 2016||Europe|
|Martin Edelmann||July 2012||June 2017*||Europe|
|Patrick Finnegan||July 2009||June 2019||North America|
|Gary Kabureck||April 2013||June 2017*||North America|
|Sue Llyod||January 2014||December 2018*||'At large'|
|Amaro Luiz de Oliveira Gomes||July 2009||June 2019||South America|
|Takatsugu (Tak) Ochi||July 2011||June 2016*||Asia-Oceania|
|Darrel Scott||October 2010||June 2015*||Africa|
|Chungwoo Suh||July 2012||June 2017*||Asia-Oceania|
|Mary Tokar||January 2013||June 2017*||North America|
|Wei-Guo Zhang||July 2007||June 2017||Asia-Oceania|
Indicates the person is eligible for reappointment (subject to the outcome of the 2015 Constitution review)
Hans Hoogervorst began his initial term on 1 July 2011, succeeding Sir David Tweedie on his retirement as chairman of the IASB at the end of June 2011. Mr Hoogervorst was previously the chairman of the Netherlands Authority for the Financial Markets (AFM), the Dutch securities and market regulator, chairman of the Technical Committee of the International Organization of Securities Commissions (IOSCO) and co-chair of the Financial Crisis Advisory Group (FCAG), an independent body of senior leaders formed to advise accounting standard-setters on their response to the global financial crisis. Mr Hoogervorst holds a Masters degree in modern history (University of Amsterdam, 1981) and a Master of Arts degree in international relations (Johns Hopkins University school of advanced international relations, majoring in international economics and Latin American studies). Mr Hoogervorst's initial term expires in June 2016.
Ian Mackintosh began his initial term on 1 July 2011, as inaugural vice-chairman of the IASB. Mr Mackintosh is a former chief accountant of the Australian Securities and Investment Commission (ASIC) and has more than 30 years experience of national and international accounting standard-setting. He was previously chairman of the UK Accounting Standards Board and chairman of the group of national accounting standard-setters, a body in which more than 20 national and regional accounting standard-setting organisations participate. He was a member, and later Deputy Chairman, of the Australian Accounting Standards Board (AASB), as well as chairing its Urgent Issues Group. Mr Mackintosh has substantial public sector experience, having chaired both the Australian Public Sector Accounting Standards Board and the IFAC Public Sector Committee. His term expires on 30 June 2016.
Stephen Cooper was appointed as a part-time Board member in August 2007, while concurrently serving as Managing Director and head of valuation and accounting research at UBS Investment Bank. In January 2009, his appointment was changed from part-time to full-time. Mr Cooper brings practical experience as an active analyst on accounting and valuation matters and will play an important role in engaging the investment community in the standard-setting process. He has been recognised as a leader in his field and voted top European Valuation and Accounting analyst by Extel and Institutional Investor magazine in each of the last 10 surveys. In his capacity at UBS, Mr Cooper advises UBS's equity research analysts and institutional clients on valuation and accounting issues. As a member of the Corporate Reporting User Forum and a member of the IASB's Analyst Representative Group (now Capital Markets Advisory Committee) and Financial Statement Presentation working group, Mr Cooper has been actively involved in the IASB's work. His (second) term expires 1 August 2017.
Philippe Danjou, director of the accounting division of the Autorite des Marches Financiers (AMF), the French securities regulator, joined the IASB in November 2006. Mr Danjou graduated from HEC, then qualified as a Chartered Accountant and Registered Statutory Auditor, and rose to be an audit partner with Arthur Andersen & Co. (Paris). He was also Executive Director of the French Ordre des Experts Comptables (OEC) from 1982 until 1986. Mr Danjou was a member of the International Auditing Practices Committee and a technical advisor to the French delegate to the former International Accounting Standards Committee, the predecessor to the IASB. While at the AMF, he has served on the IASB's Standards Advisory Council, as an observer at the Committee on Auditing of the European Commission, as a member of IOSCO's Standing Committee 1 on Multinational Accounting and Disclosure, and the Financial Reporting Committee of the Committee of European Securities Regulators (CESRFin). His (second) term expires 30 June 2016.
Martin Edelmann is currently a senior adviser at German consultancy firm zeb/rolfes.schierenbeck.associates (Zeb). He previously served as a member of the German Accounting Standards Board from 2006 until 2011. He is a former Head of Group Reporting at Deutsche Bank AG, where he was responsible for internal and external reporting activities between 1997 and 2011. Mr Edelmann was a member of the Accounting Working Group of the German Banking Association for 14 years and served as Chairman from 2004-2011. His term expires 30 June 2017.
Patrick Finnegan was appointed to the IASB as of 1 July 2009. Prior to joining the Board, he was Director of the Financial Reporting Policy Group, CFA Institute Centre for Financial Market Integrity. In that capacity he led a team at CFA Institute responsible for providing user input into the standard-setting activities of the IASB, FASB, and key regulatory bodies. CFA Institute is a global, not-for-profit association for investment professionals and has nearly 100,000 members. He has also co-ordinated the work of the CFA Institute's Corporate Disclosure Policy Council, which reviews and comments on financial reporting policy initiatives around the world. Before joining the CFA Institute in 2008, Mr Finnegan worked at Moody's Investors Service, where he served as a managing director in Moody's Corporate Finance Group and as a senior analyst in Moody's Financial Institutions Group. His term expires 30 June 2019.
Gary Kabureck served as the Chief Accounting Officer for Xerox Corporation from 2001 (and from 2003 also as a Corporate Vice President). Prior to joining Xerox in 1985, Mr Kabureck spent ten years working with one of the international audit firms. He is also an active member of Financial Executives International (FEI) and has served on a range of other advisory boards, including to the Public Company Accounting Oversight Board (PCAOB) and the US Financial Accounting Standards Board (FASB). Mr Kabureck earned a Bachelor of Science degree in Accounting from the University of Bridgeport, holds a Masters of Business Administration, and is a Certified Public Accountant. His first term commences in April 2013 and expires 30 June 2017.
Sue Lloyd was appointed to the IASB as of 1 January 2014. Ms Lloyd was a Senior Director of Technical Activities at the IASB and responsible for leading the technical staff in the development of new IFRSs. Ms Lloyd is originally from New Zealand and a former member of the Australian Accounting Standards Board. Before joining the IASB's staff as Director of Capital Markets, with responsibility for the IASB’s work to reform the accounting for financial instruments, she held various senior positions within the banking sector in the United Kingdom and in Australasia. Her term expires 31 December 2018.
Amaro Gomes was appointed to a five-year term as a full-time member of the IASB as of 1 July 2009. Before joining the IASB, Mr Gomes was Head of Financial System Regulation Department of the Central Bank of Brazil. In that capacity, he played a leading role in the adoption of International Financial Reporting Standards in Brazil. (All listed companies and all banks are required to prepare and publish consolidated financial statements in full compliance with IFRSs starting in 2010.) At the Central Bank of Brazil, Mr Gomes was responsible for drafting regulatory proposals on such matters as Basel II implementation, money laundering, accounting and auditing, microfinance, and prudential requirements. From 2004 to 2009, he served on the Accounting Task Force of the Basel Committee on Banking Supervision. Before joining the Central Bank, Mr Gomes was an auditor with one of the international audit firms. He is co-author of a book Accounting for Financial Institutions. His term expires 30 June 2019.
Takatsugu (Tak) Ochi joined as a member of the IASB from 1 July 2011. Mr Ochi was previously Assistant General Manager, Financial Resources Management Group of Sumitomo Corporation. He was also a member of the IFRS Interpretations Committee, Secretary-General of the Nippon Keidanren (Japan Business Federation) Taskforce for early adoption of IFRS and an adviser to the Accounting Standards Board of Japan (ASBJ). He studied Economics at Kobe University, Japan. His term expires 30 June 2016.
Darrel Scott was formerly CFO of the FirstRand Banking Group, one of the largest financial institutions in South Africa. He had responsibility for both statutory and regulatory financial reporting under the Basel II Accords and served on various Governance, Risk, Operation and Strategic Committees of the Group. Mr Scott was also a member of the IASB’s International Financial Reporting Interpretations Committee (IFRIC), a position from which he resigned to become an IASB member, and was formerly a member of the IFRS Foundation’s Standards Advisory Council (SAC), now called the IFRS Advisory Council. Mr. Scott joined the IASB as a board member in October 2010. His term expires 31 October 2015.
Chungwoo Suh currently currently serves as an advisor to the Korea Accounting Standards Board (KASB) and is a Professor of Accounting at Kookmin University, Seoul. He served as Chairman of the KASB between 2008 and 2011, has a Ph.D in Accountancy from the University of Illinois, and an MBA from Seoul National University. Dr Suh has served as a member of various committees, including the IFRS Advisory Committee, Korea Exchange Listing Committee and Committee for Corporate Governance. His term expires 30 June 2017.
Mary Tokar has been the global leader for KPMG’s International Financial Reporting Group, leading the firm's dialogue with the global accounting regulatory and standard-setting communities. Having worked with engagement teams and clients around the world in their transition to and application of IFRS, she has gained extensive experience in the application of IFRSs in both developed and emerging economies. Previously, Ms Tokar worked at the US Securities and Exchange Commission (SEC) as the Senior Associate Chief Accountant, International, in the Chief Accountant’s Office. Ms Tokar was a member of the IFRS Interpretations Committee between 2001 and 2007. Her term expires 30 June 2017.
Wei-Guo Zhang began a five-year term as a member of the IASB on 1 July 2007. Prior to then, he was Chief Accountant and Director General of the Department of International Affairs of the China Securities Regulatory Commission (CSRC). He joined the CSRC as its Chief Accountant in 1997. While at the CSRC, Dr Zhang has had experience in a number of national and international standard-setting, and regulatory activities. Since 2002, Dr Zhang has been a member of Standing Committee No.1 on Accounting, Auditing and Disclosure of the Technical Committee of the International Organization of Securities Commissions (IOSCO). He has also been a member of the China Accounting Standards Committee since 1998 and the China Auditing Standards Committee since 2004. Before joining the CSRC, Dr Zhang was Head of the Department of Accounting at Shanghai University of Finance and Economics (SUFE), where he also received his PhD in economics. His (second) term expires 30 June 2017.