The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced that Wayne Upton will take over as Chair of the IFRS Interpretations Committee from Robert Garnett. The appointment is effective immediately and Mr. Upton will chair his first meeting in September.
The appointment of Mr. Upton, made with the support of the IASB Chair and Vice-Chair, reflects the strong relationship between Mr. Upton’s work as IASB Director of International Activities (a role that he will continue to lead) and the Committee’s work aimed at consistency of interpretation. His appointment will enhance the link between these efforts.
The Trustees thank Mr. Garnett for his service both as a former member of the IASB and most recently as Chair of the Interpretations Committee.
Commenting on the announcement, Tsuguoki (Aki) Fujinuma and Robert Glauber, Vice-Chairs and Acting Co-Chairs of the IFRS Foundation Trustees, said:
Robert has been an effective leader of the Interpretations Committee. Under his direction, the Committee has supported the IASB’s commitment to principle-based standards through careful consideration of requests for additional implementation guidance.
We believe that linking Wayne’s responsibilities on interpretation and international implementation will help the cause of consistent application.
- Mark Byatt, Director of Corporate Communications, IFRS Foundation
Telephone: +44 (0)20 7246 6472