The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced the appointment of Takatsugu (Tak) Ochi as a member of the IASB for an initial five-year term from 1 July 2011 and renewable for a further three-year term.
Mr Ochi is currently Assistant General Manager, Financial Resources Management Group of Sumitomo Corporation. He is also a member of the IFRS Interpretations Committee, Secretary-General of the Nippon Keidanren (Japan Business Federation) Taskforce for early adoption of IFRS and an adviser to the Accounting Standards Board of Japan (ASBJ). He studied Economics at Kobe University, Japan. Mr Ochi will relinquish existing roles upon joining the IASB.
Hans Hoogervorst, Chair-designate of the IASB, and Ian Mackintosh, Vice-Chair-designate of the IASB, will also begin their initial terms on 1 July 2011.
The Trustees have also confirmed the reappointment of Philippe Danjou, to serve a second five-year term.
Commenting on Mr Ochi’s appointment, Tsuguoki (Aki) Fujinuma, acting co-chair and co-vice-chair of the Trustees said:
Takatsugu Ochi brings a wealth of experience in the preparation of financial statements in accordance with IFRSs and US and Japanese GAAP.
Working at a company in the process of adopting IFRSs and having been a member of the IFRS Interpretations Committee, Mr Ochi will be ready to make a strong contribution to the standard-setting process immediately.
Sir David Tweedie, Chairman of the IASB, said:
Tak is a highly regarded member of the Japanese financial reporting community. I’ve known him for several years in his capacity as a member of the IFRS Interpretations Committee and have worked closely with him as Japan prepares for adoption of IFRSs. I very much welcome this appointment.
I am also delighted that Philippe will be continuing as a member of the Board.
Takatsugu Ochi said:
I am very pleased to join the IASB, and to work with other Board members to achieve our noble goal for developing a single set of high quality global accounting standards.
- Mark Byatt, Director of Corporate Communications, IFRS Foundation
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