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The Trustees of the IFRS Foundation, who are responsible for the governance and oversight of the International Accounting Standards Board (the Board), have appointed Dr Jianqiao Lu as a Board member.

Dr Lu will join the Board from the Chinese Ministry of Finance, where he is Director of the Accounting Regulatory Department and in charge of Chinese accounting standard-setting.

During this time, he played a leading role in China’s work to align Chinese accounting standards with IFRS Standards; in 2015, China reaffirmed its commitment to achieve full convergence with IFRS Standards.

Dr Lu once served as the head of China’s governmental accounting standards reform working group and also led projects to develop accounting standards for non-governmental not-for-profit organisations.

He has made an important contribution to the establishment and work of the Asia-Oceanian Standard-Setters Group (AOSSG), an independent forum of accounting standard-setters from across the region. He has also been actively involved with the IFRS Foundation for many years, including as a key facilitator of the Board’s Emerging Economies Group and as a member of the Accounting Standards Advisory Forum.

Dr Lu has a PhD in Management from Shanghai University of Finance and Economics.

Sheila Fraser, Chair of the Trustees’ nominating committee, said:

I am pleased that Dr Lu has accepted to join the Board. With his broad policy and technical experience, his skills will complement those of the other Board members. I also wish to pay tribute to the first-rate work of Stephen Cooper and Dr Wei-Guo Zhang, who will shortly retire from the Board.

Hans Hoogervorst, IASB Chairman, said:

Dr Lu’s long-term deep expertise in accounting standard-setting makes him an excellent addition to the Board. I look forward to welcoming him as a fellow Board member.

Dr Lu said:

I am very pleased and honoured to be appointed as a Board member and look forward to working with the other Board members, staff and the IFRS Foundation’s many stakeholders to deliver on the organisation’s mission.

Dr Lu is appointed for an initial five-year term, effective August 2017.

Stephen Cooper, whose second term as a Board member ends 31 July 2017, and Wei-Guo Zhang, whose second term ends 30 June 2017, have both served the maximum time on the Board and will step down when their terms end.