The Trustees of the IFRS Foundation have appointed Sue Lloyd, Vice-Chair of the International Accounting Standards Board (the Board), as the new Chair of the IFRS Interpretations Committee with immediate effect.
The Trustees of the IFRS Foundation are responsible for the governance and oversight of the IFRS Interpretations Committee, including appointing its Chair and members.
The Board and the Interpretations Committee work together to support the implementation and application of IFRS Standards. The Interpretations Committee responds to questions from stakeholders about the application of the Standards by including educative guidance within published Agenda Decisions and, if required, developing interpretations (called IFRIC® Interpretations) or amendments to the Standards.
The Committee consists of 14 voting members drawn from a variety of countries and professional backgrounds. The Chair has no voting rights.
Sheila Fraser, Vice-Chair of the Trustees and Chair of the Nominating Committee, said:
I am pleased that Sue has agreed to take on the role of Chair of the IFRS Interpretations Committee. Having a Board member chair the Committee will help ensure good communication between the Committee and the Board, facilitating effective collaboration.
Sue Lloyd said:
Supporting the implementation and application of IFRS Standards is a strategic priority for the IFRS Foundation. The Interpretations Committee has a critical role to play in this work. I look forward to working with the Committee.
Wayne Upton chaired the Committee from 2011 until 2016, when he passed away unexpectedly.