John Smith
John Smith was appointed to the IASB as a part-time member in September 2002.
Prior to joining the IASB and while Mr Smith was a part-time member, he was a partner in Deloitte and Touche.
He retired from D&T in June 2007 and was reappointed as a full-time member of the IASB for a five year term ending June 2012.
Mr Smith represented D&T on the Emerging Issues Task Force of the US Financial Accounting Standards Board (FASB). He also provided accounting consultation to D&T national office and client service personnel.
Mr Smith was a member of the FASB’s Derivatives Implementation Group (DIG) and Financial Instruments Task Force.
He was a member of the International Financial Reporting Interpretations Committee (IFRIC) and was previously a founding member of the predecessor body, the Standing Interpretations Committee.
Representing the US he served as a member of the Board of IASC in 2000.
He was a member of the Steering Committee for the development of IAS 39 and chaired the former IAS 39 Implementation Guidance Committee.
Before joining the National Office of D&T in Wilton, Mr Smith was in charge of the Financial Instruments Research Group in New York. That group consisted of financial instruments specialists whose focus was on the valuation and operation of, and accounting for, financial products.
Under his direction, the group provided consultation and technical support to practice office personnel and clients nationally, primarily on financial instruments including:
- securitisations
- hedging and risk management strategies and policies,
- off balance sheet instruments,
- derivative products, and
- valuation techniques.
He regularly makes presentations on accounting matters, particularly financial instruments and hedging activities.
Mr Smith joined the audit staff of his firm in Fort Lauderdale in 1973.
He spent four years as a manager in the National Office SEC Department and was responsible for reviewing and consulting on filings with the SEC.
He also served as an audit partner responsible for numerous audit engagements in the Dallas and New York offices.
He received his BA and MA in accounting from the University of South Florida.