ICAEW, a world leader in the accountancy and finance profession, comments on the appointment of Hans Hoogervorst as Sir David Tweedie's replacement as Chairman of the International Accounting Standards Board (IASB).
Michael Izza, ICAEW chief executive, said:
"The appointment of Mr Hoogervorst as the new chair of the IASB heralds a new era for financial reporting.
"He, and his future deputy Ian Mackintosh, needs to build on the tremendous progress made by David Tweedie towards achieving a single set of global accounting standards, working towards a positive US decision on adoption of International Financial Reporting Standards (IFRS). At the same time they need to inaugurate the transition to a new and very different phase of international accounting where the quality of existing and new standards is the overriding priority for the Board. They have an unenviable to-do list.
"It is critical too that Mr Hoogervorst engages with key IFRS stakeholders across the world at an early stage to understand their views and concerns. He and his fellow Board members have to work very closely with regulators while maintaining their focus on meeting the information needs of global investors.
"We look forward to working closely with the new IASB leaders."
Rate this article
Voting has now ended.