Trustees announce new appointments to enlarged IFRIC
03 April 2008
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The Trustees of the International Accounting Standards Committee (IASC) Foundation today announced the appointment of two additional members of the International Financial Reporting Interpretations Committee (IFRIC).
In November 2007 the Trustees decided to increase the number of IFRIC members from 12 to 14 in order to broaden IFRS expertise on the committee. The appointments follow a public search to fill the vacancies created.
The new members are:
- Margaret M. (Peggy) Smyth
Vice President, Controller, United Technologies Corp., United States
- Scott Taub
Managing Director, Financial Reporting Advisors, LLC, United States, and former Acting Chief Accountant and Deputy Chief Accountant, U.S. Securities and Exchange Commission.
The appointments are for three years, as mandated in the IASC Foundation’s Constitution, and will end on 30 June 2011. The two members will be eligible for reappointment.
Further vacancies will be created in July 2008 by the retirement of four IFRIC members. An advertisement for new members will be posted shortly on the IASC Foundation’s Website.
Commenting on the appointments, Gerrit Zalm, Chairman of the Trustees, said:
The IFRIC has a vital role in promoting the uniform interpretation and application of accounting standards, and its expansion to fourteen members will enable the IFRIC to draw upon a wider range of practical experience with IFRSs. Peggy Smyth, in her role at a multinational company implementing IFRSs for many of its subsidiaries and addressing convergence issues for the corporation as a whole, and Scott Taub, from his experience both at the SEC and in his current role advising companies using IFRSs, are well-positioned to assist the IFRIC in its work.
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