IFRS Foundation Trustees
Overview
Number of trustees
There are currently 22 Trustees. Initially, the Foundation Board of Trustees had 19 Trustees.
Geographical balance of trustees
The IFRS Foundation Constitution requires the following geographic balance for Trustees:
- Six from the Americas
- Six from Europe
- Six from the Asia/Oceania region
- One from Africa
- Three from any area, subject to establishing overall geographical balance.
Backgrounds of trustees
The constitution requires an appropriate balance of professional backgrounds, including auditors, preparers, users, academics, and other officials serving the public interest. Two will normally be senior partners of prominent international accounting firms.
Selection of trustees
Trustees are appointed by the Board of Trustees itself (self-perpetuating board). Trustees adopt their own procedures for appointing trustees. Those procedures must include consultation with national and international organisations of auditors (including IFAC), preparers, users, and academics and public solicitation of nominees including self-nominations. To achieve this objective, the trustees have established a Trustee Appointments Advisory Group. The trustees will consult that body before making decisions on trustee appointments.
Current IFRS Foundation Trustees
| Trustee | From | Term Expires |
|---|---|---|
| Erkki Liikanen, Chairman of the Trustees Mr Liikanen has worked in various leadership positions which included serving as Governor of the Bank of Finland, Governor of the International Monetary Fund, and member of the Governing Council of the European Central Bank. |
Finland | 31 December 2024 |
| Teresa Ko, Vice-Chair China chairman and partner of Freshfields Bruckhaus Deringer; non-executive director of the Securities and Futures Commission of Hong Kong |
Hong Kong | 31 December 2023 |
| Larry Leva, Vice-Chair Global vice-chairman for quality, risk and regulatory at KPMG International |
United States | 31 December 2023 |
| Dame Colette Bowe Chairman of the UK Banking Standards Board; board member of the UK Statistics Authority; trustee and chairman of the audit committee of the Nuffield Foundation |
United Kingdom | 31 December 2023 |
| Koushik Chatterjee Executive Director, Chief Financial Officer, and board member of Tata Steel Limited |
India | 31 December 2025 |
| Jorge Familiar Vice President and Treasurer of the World Bank |
Mexico | 31 December 2024 |
| Suresh P. Kana Chairman of the South-African standard-setter, the Financial Reporting Standards Council; also chairs the King Committee on Corporate Governance in South Africa and the Audit Committee of the United Nations World Food Programme) |
South Africa | 31 December 2024 |
| Masamichi Kono Deputy Secretary General of the Organisation for Economic Cooperation and Development (OECD) |
Japan | 31 December 2023 |
| Sukjoon Lee Former Minister of the Office for Government Policy Coordination, now a senior adviser to Shin & Kim LLC |
South Korea | 31 December 2025 |
| Michel Madelain Current vice chairman and former president of Moody’s Investors Service; former partner of EY in France |
France | 31 December 2023 |
| Steven Maijoor Former Chair of the European Securities and Markets Authority (ESMA), currently member of the Executive Board of De Nederlandsche Bank |
Netherlands | 31 December 2025 |
| Ross McInnes Chairman of the board of Safran; non-executive director and chair of the audit committee at Eutelsat; non-executive director at Lectra |
France | 31 December 2023 |
| Robert Pozen Senior lecturer at MIT Sloan School of Management and a non-resident senior fellow at the Brookings Institution; formerly President of Fidelity Investments and Executive Chair of MFS Investment Management |
United States | 31 December 2023 |
| Vinod Rai Former comptroller and auditor general of India; former chairman of the UN Panel of External Auditors |
India | 31 December 2023 |
| Lucrezia Reichlin Professor of economics at London Business School; former director general of research at the European Central Bank; non-executive director of several financial companies |
Italy | 31 December 2023 |
| Kenneth Robinson Trustee of the Financial Accounting Foundation and a board member of Paylocity and Morgan Stanley |
United States | 31 December 2023 |
| Isabel Saint Malo Former Vice President and Foreign Minister of Panama, now an advocate and adviser on the United Nations’ Sustainable Development Goals |
Panama | 31 December 2025 |
| Erhard Schipporeit Independent management consultant and is a supervisory board member for several German companies |
Germany | 31 December 2023 |
| Sarah J. Al Suhaimi Chair of the Board of Directors of Tadawul, the Saudi Stock Exchange, and CEO of NCB Capital, the investment banking arm of Saudi Arabia’s National Commercial Bank |
Saudi Arabia | 31 December 2024 |
| Keiko Tashiro Deputy President at Daiwa Securities and Head of Overseas Operations and Head of Sustainable Development Goals |
Japan | 31 December 2024 |
| Maria Theofilaktidis Executive Vice-President, Chief Compliance Officer and Head of Enterprise Risk for The Bank of Nova Scotia |
Canada | 31 December 2025 |
| Wencai Zhang Vice President of the Export-Import Bank of China |
China | 31 December 2025 |
| Note: At their meeting in January 2010, the Trustees voted to rename the IASC Foundation to the IFRS Foundation. The name change was implemented as of 31 March 2010. | ||
