The Curious Change in Leadership at the IASB

C. Richard Baker, PhD, CPA

The recent appointment of a new chairman and vice chairman at the International Accounting Standards Board (IASB) marks a significant change in the leadership of this organization. Following the 10-year tenure of David Tweedie, Hans Hoogervorst, the former chief securities regulator of the Netherlands, was appointed to succeed Tweedie as IASB chairman as of July 1, 2011. The IFRS Foundation trustees also appointed Ian Mackintosh, formerly chairman of the U.K. Accounting Standards Board (ASB), as IASB vice chairman. These newly appointed officials began their terms in a somewhat unusual manner by making several public observations about a potential lack of future cooperation between FASB and the IASB, should the U.S. SEC fail to adopt International Financial Reporting Standards (IFRS).