Press Releases

IFRS Interpretations Committee appointments

04 May 2010

The Trustees of the International Accounting Standards Committee (IASC) Foundation, oversight body of the International Accounting Standards Board (IASB), announced today an appointment and reappointments to the IFRS Interpretations Committee, formerly known as the IFRIC.

Robert Garnett to continue as Chair: Robert Garnett, the non-voting Chair of the Interpretations Committee, will retire as a member of the IASB at the end of June 2010. However, in order to provide continuity during a period of significant change to accounting standards around the world the Trustees have asked Mr Garnett to continue as Chair of the Committee for a further period of two years.

Reappointment of three members with terms expiring: Guido Fladt (PwC), Bernd Hacker (formerly of Siemens) and Andrew Vials (KPMG) complete their first terms as members of the Interpretations Committee at the end of June 2010. The Trustees have reappointed all three members for a further three-year term.

Feilong Li appointed to the Interpretations Committee: Feilong Li, controller of CNOOC, China’s largest producer of offshore crude oil and natural gas with a dual-listing in Hong Kong and the United States, has been appointed for a three-year term as a member of the Interpretations Committee. Mr Li replaces Darrel Scott (FirstRand Banking Group), who has been appointed to serve as a member of the IASB from October 2010.

Commenting on the appointments, Sir Bryan Nicholson, Chair of the Nominating Committee of the Trustees, said:

I am delighted that Bob Garnett has agreed to remain as Chair of the IFRS Interpretations Committee, and that Andrew, Bernd and Guido have all agreed to serve second terms. The Trustees had the luxury of choosing from an impressive list of candidates for a successor to Darrel Scott, and I welcome Feilong Li to the Committee.

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