Today, the Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), announced that Hans Hoogervorst will succeed Sir David Tweedie as the new IASB chairman and that Ian Mackintosh will become the vice chairman when Sir David retires at the end of June 2011.

Mr. Hoogervorst is currently chairman of the Netherlands Authority for the Financial Markets, the Dutch securities and market regulator; chairman of the Technical Committee of the International Organization of Securities Commissions; and co-chair of the Financial Crisis Advisory Group, an independent body of senior leaders formed to advise accounting standard setters on their response to the global financial crisis.

Mr. Mackintosh, a former chief accountant of the Australian Securities and Investment Commission, is currently 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 organizations participate.

For further information, see the news article on the IASB’s Web site and the commentary on IAS Plus by Robert Bruce, a former Financial Times columnist.