The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), announced today the appointment of Chungwoo Suh as a member of the IASB for an initial five-year term from 1 July 2012 and renewable for a further three-year term.
Dr Suh currently serves as an advisor to the Korea Accounting Standards Board (KASB) and is a Professor of Accounting at Kookmin University, Seoul. He served as Chairman of the KASB between 2008 and 2011, during which time he led Korea’s preparations to adopt International Financial Reporting Standards (IFRSs) in full from 2011.
Dr Suh, aged 56, has a Ph.D. in Accountancy from the University of Illinois, USA, and an MBA from Seoul National University. He is a Certified Public Accountant in Korea.
Commenting on the appointment, Robert Glauber, Chairman of the Trustees’ Nominating Committee said:
I am delighted to welcome Dr Suh to the IASB. The Republic of Korea is an important member of the G20 and a major Asian economy, as well as being a full adopter of IFRSs.
His experience will greatly benefit the IASB as it continues on the path to becoming the global accounting standard-setter.
Chungwoo Suh said:
It is my great pleasure to become a member of the IASB. I have great respect for the current achievements of the IFRS Foundation, the IASB and their staff. I will endeavour to make a positive and meaningful contribution towards developing globally accepted IFRSs and I will look to aim high to achieve results for the benefit of all our constituents in the world.
About Chungwoo Suh
- Adviser at the KASB, 2011-present
- Professor at Kookmin University, Seoul, 1988-2005, and 2011-present
- Chair of the KASB, and President of the Korea Accounting Institute, 2008-2011
- Vice-chair of the KASB, and Chair of the IFRS Review Committee, 2005-2008
- Member of various committees
- Korea Exchange Listing Committee, 2006-2008
- IFRS Advisory Committee, 2005
- MOU Review Committee, Korea Deposit Insurance Corp, 2007-2009
- Committee for Internal Control over Financial Reporting, Korea Listed Companies Association, 2005-2008
- Committee for Corporate Governance. 2003-present
- Staff of Samil Accounting Firm (PwC), Seoul, 1981
- Ph.D., University of Illinois at Urbana-Champaign, Accountancy, USA, 1988
- MBA, Seoul National University, Business Administration, Korea, 1981
- BS, Seoul National University, Geography, Korea, 1978
- Mark Byatt, Director of Corporate Communications and External Affairs, IFRS Foundation
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