Two IASB Board Members are appointed

  • IASB (International Accounting Standards Board) (blue) Image

04 Feb, 2010

The Trustees of the IASC Foundation have appointed two financial executives to the IASB:

  • Elke Koenig – former member of the executive board and chief financial officer (CFO) of Hannover Re Group (Germany). Dr Koenig has served as a senior financial executive in the insurance industry. From 2002 to 2009 she served as CFO of Hannover Re Group, a leading international reinsurance group. Previously she spent twelve years as a member of the senior management of Munich Re, with specific responsibility for the group's accounting and controlling activities. She is currently serving in non-executive capacities as chairperson of Hannover Finanz GmbH and as a member of the supervisory board of Deutsche Hypothekenbank Actiengesellschaft. Dr Koenig has been a member of the CFO Forum of European insurers, where she has been actively engaged in the IASB's project on insurance contracts.
  • Darrel Scott – CFO of the FirstRand Banking Group (South Africa). Mr Scott is CFO of the FirstRand Banking Group, one of the largest financial institutions in South Africa. He has responsibility for both statutory and regulatory financial reporting under the Basel II Accords. He serves on various governance, risk, operations and strategic committees of the Group. Mr Scott is also a member of the IASB's International Financial Reporting Interpretations Committee (IFRIC), a position from which he will resign to become an IASB member, and was formerly a member of the IASC Foundation's Standards Advisory Council (SAC).
Dr Koenig and Mr Scott will begin their five-year terms as full-time members of the IASB in July and October 2010 respectively. The appointments fill vacancies that will be created by the retirement of Robert Garnett and Gilbert Gelard on 30 June 2010. A search is ongoing for a replacement for Jim Leisenring, who also retires at the end of June 2010. Click for Press Release (PDF 28k).


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.