Born in India, Mr Kalavacherla is an audit partner at KPMG LLP and is currently based in the San Francisco office. In addition to working in the US, he has worked extensively in India, where he led KPMG’s US GAAP practice, and in Europe.

In his present role, he serves as both reviewing partner for clients preparing financial statements according to International Financial Reporting Standards (IFRSs) and filings with the US Securities and Exchange Commission.

Mr Kalavacherla has specialised in the technology and biotechnology fields. Upon assuming his post, he will resign from his position at KPMG LLP as is required under the constitution of the IASC Foundation.

Mr Kalavacherla holds a masters degree in accountancy with distinction from California State University-Chico and is a member of both the Institute of Chartered Accountants of India and the American Institute of Certified Public Accountants. He is also on the board of a not-for-profit organisation, Food for Life, which serves over 800,000 children each day.

In announcing the appointment, Gerrit Zalm, Chairman of the Trustees of the IASC Foundation, said:

International standards should be set by a truly international IASB, and PK brings a wealth of experience and technical expertise in the application of IFRSs within both developed and emerging markets. I am delighted that PK will be joining the IASB at such an important time in the development of IFRSs.

Sir David Tweedie, Chairman of the IASB, said:

PK’s appointment further broadens the knowledge of the IASB, particularly as he has addressed the many complex accounting issues associated with the technology and biotechnology sectors. We are also delighted that PK will bring enormous experience of working in emerging markets and will therefore be an invaluable resource for helping the IASB understand practical implementation issues. His appointment is an important one, and I welcome PK to the IASB.

Commenting on his appointment, Mr Kalavacherla said:

I am honoured to be asked to serve on the IASB. The objective of the IASB - to develop a single set of high quality, global standards - is an important one. IFRSs should serve as the foundation of the world’s ever integrating capital markets. In particular, I believe that the widespread use of IFRSs will have an important effect on the development of emerging economies, and I am committed to working towards the adoption of IFRSs as published by the IASB in those areas.

A short interview with Prabhakar Kalavacherla has been published on this Website.

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