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The Trustees and staff of the IFRS Foundation and Members of the International Accounting Standards Board (Board) wish to express their condolences to the family of Paul Volcker, who died on 8 December 2019.

Mr Volcker was a committed public servant, held in the highest regard internationally and within the United States. Among the many accomplishments of his long career, he was appointed as the inaugural Chairman of the IFRS Foundation (formerly IASC Foundation) Trustees, serving from 2000 until 2006.

During this period, Mr Volcker led the restructuring of the Foundation, appointed the first Board and garnered widespread international support for its mission of global accounting standards.

Many of the Foundation’s achievements in subsequent years are therefore thanks to the path set out by Mr Volcker during his tenure as Chairman of the Trustees.