- news
- FINANCIAL REPORTING
IFRS constitution change formally splits IASB chair, foundation CEO roles
Please note: This item is from our archives and was published in 2012. It is provided for historical reference. The content may be out of date and links may no longer function.
Related
Reputation, security, compliance: Why AI risk disclosures are surging
Insights into the practical effects on CECL by FASB ASU 2025-05
Right-size your quality management documentation for SQMS No. 1
The IFRS Foundation is changing its constitution to reflect the separation of the roles of the foundation’s CEO and the chairman of the International Accounting Standards Board (IASB).
This move formalizes a separation that previously was implemented following an internal structure reorganization at the end of 2011.
The chair of the IASB, currently Hans Hoogervorst, will no longer serve as CEO of the IFRS Foundation. The CEO position is included in the new role of executive director of the foundation.
Yael Almog, who directed the International Affairs department of the Israel Securities Authority, was appointed to the executive director position in January 2012.
A drafting review of the change in the constitution is available on the IFRS website; comments can be made through Oct. 23.
The IASB chair retains full responsibility for all standard-setting matters, including resources. The separation was made to ensure segregation of responsibilities for IASB operations to prevent an actual or perceived conflict of interest in standard setting.
—Ken Tysiac (ktysiac@aicpa.org) is a JofA senior editor.