U.S. representation on the International Accounting Standards Board (IASB) won’t decrease with the end of Paul Pacter’s term, as another U.S. representative, Mary Tokar, has been appointed to the board.
Tokar, a CPA, has served more than 10 years as the global leader for KPMG’s international financial reporting group, helping companies around the world adopt and apply IFRS. She previously worked as the SEC’s senior associate chief accountant for international issues.
She will join the IASB in January for a term that will end June 30, 2017, when she will be eligible to have her term renewed for three years. Her appointment could soften concerns that the IASB will shun U.S. representation and influence as a result of the SEC’s continuing indecision on whether to allow or require U.S. issuers to file financial statements prepared in accordance with IFRS.
“Mary brings a wealth of experience in the implementation of IFRS around the world,” IASB Chairman Hans Hoogervorst said in a statement. “She is an excellent choice to follow in the footsteps of Paul Pacter, who will be retiring from the board at the end of the year.”
Tokar’s appointment means that the number of IASB members from the United States will remain at three.
Pacter, a former Financial Accounting Foundation executive director, was appointed to the IASB on July 1, 2010. His term expires Dec. 31.
—Ken Tysiac (email@example.com) is a JofA senior editor.