The International Accounting Standards Board (IASB) today announced the appointment of Hugh Shields as Executive Technical Director, effective March 2014. In this capacity, Mr Shields will lead the IASB’s technical staff and be responsible for the efficient delivery of all technical activities.
Mr Shields currently serves as a Managing Director for Credit Suisse in the Europe, Middle East and Africa region, responsible for both financial and regulatory reporting across the bank and leading a team of approximately 200 staff located in 20 countries. Before that, he held senior positions both in banking and public accounting practice.
Mr Shields has extensive experience of the application of International Financial Reporting Standards (IFRS), having held senior technical accounting and financial reporting roles across Asia, Europe, Africa, the Middle East and the Americas. He has also contributed to the conceptual development of financial reporting globally. He previously chaired a highly-acclaimed study by the Institute of Chartered Accountants of Scotland (ICAS) on ‘principles versus rules’ and has served as a Member of various advisory bodies to the Fédération des Experts-comptables Européens (FEE) and the European Financial Reporting Advisory Group (EFRAG).
Mr Shields qualified with the Institute of Chartered Accountants of Scotland in 1990, having trained at KPMG London. He read Economics at Cambridge University, where he was a Senior Scholar, and is also professionally qualified as a Corporate Treasurer.
Commenting on the appointment, Hans Hoogervorst, Chairman of the IASB said:
"Hugh will be a valuable addition to the leadership team, while his broad experience will help us to deliver technical projects to a very high standard and on a timely basis."
Hugh Shields commented:
"I am absolutely delighted to be taking on this role and to have the opportunity to work with the many talented colleagues on the technical staff.”
Mark Byatt, Director of Communications and External Affairs, IFRS Foundation
Telephone: +44 (0)20 7246 6472
Chris Welsh, Communications Manager, IFRS Foundation
Telephone: +44 (0)20 7246 6495