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Hans Hoogervorst: Realigning technical resources to future priorities

 13 December 2013

Hans Hoogervorst, Chairman of the IASB, provides an overview of recent changes to the leadership of the IASB’s technical staff:

Realigning technical resources to future priorities

Yesterday, we announced the appointment of Hugh Shields to a new role of Executive Technical Director. Hugh will be responsible for all technical staff and the timely delivery of our technical activities. This is a very important appointment and we all look forward to Hugh starting work on 3 March 2014.

I have commented on many occasions about the manner in which accounting standard-setting is changing. Our research agenda is gaining in importance and will help us to reduce instances of false starts and cul-de-sacs in our technical projects. The Accounting Standards Advisory Forum (ASAF) has ushered in a new era of enhanced cooperation in standard-setting. The IFRS Interpretations Committee is playing a far more active role and has a number of new tools at its disposal, while the completion of the remaining convergence projects with the FASB will naturally result in our technical staff working in a different manner on our new agenda projects, such as the Conceptual Framework and the Disclosure Initiative.

Recognising this changing landscape, effective 1 January 2014, we have decided to make some adjustments to the leadership of the technical staff.

First, as the Senior Technical Director we have asked Alan Teixeira to lead a number of areas that are vitally important to the organisation. Alan will be responsible for the research programme, where the major analysis and development of potential new standards will now take place, shaping our future agenda. This work also involves developing our network of national standard-setters and the broader research community. During 2014, we plan to host the IASB’s first ever research forum, supported by accounting academics from around the world. Alan will also oversee the staff work of the IFRS Interpretations Committee, led by Michael Stewart, as well as the important work that we are doing on disclosure and digital reporting.

Second, we are promoting Henry Rees and Kumar Dasgupta to the role of Technical Director. Henry Rees will assume responsibility for the non-financial instruments projects on the current agenda, as well as taking on responsibility for supporting the work of the ASAF and the IFRS Advisory Council, the Education Initiative (led by Michael Wells), Editorial and Due Process functions. Kumar will pick up responsibility at a Director level for our financial instruments work.

Third, Peter Clark will continue as a Technical Director, with responsibility for the Conceptual Framework project.

Hugh’s role will be to knit all of these important functions together, and ensure that we have timely delivery of our technical activities. I am convinced that this revised structure and technical leadership team will better align our resources to our priorities for 2014 and beyond.

With season’s greetings