The IFRS Foundation trustees announced Friday that Hans Hoogervorst has been reappointed chairman of the International Accounting Standards Board (IASB) for a second five-year term that will begin July 1st.
Ian Mackintosh, the IASB vice chairman, will retire on June 30th.
Under Hoogervorst and Mackintosh, the IASB has completed high-profile standards on revenue recognition, financial instruments, and leases. The number of countries applying IFRS has increased during their tenure.
“Hans and Ian have provided strong and effective leadership of the IASB during these last five years, introducing major new improvements to financial reporting while overseeing continued progress toward global adoption of IFRS standards,” Michel Prada, chairman of the IFRS Foundation trustees, said in a news release.
—Ken Tysiac (ktysiac@aicpa.org) is a CGMA Magazine editorial director.