Trustees of the IFRS Foundation
The Trustees of the IFRS Foundation are responsible for the governance and oversight of the International Accounting Standards Board (the Board).
The Trustees are not involved in any technical matters relating to the Standards. This responsibility rests solely with the Board.
The Trustees are accountable to the Monitoring Board, a body of publicly accountable markets authorities.
Trustees are appointed for a renewable term of three years. Each Trustee is expected to have an understanding of, and be sensitive to, international issues relevant to the success of an international organisation responsible for the development of high quality global accounting standards for use in the world's capital markets and by other users.
Six of the Trustees must be selected from the Asia/Oceania region, six from Europe, six from the Americas, one from Africa and three from the rest of the world (see Trustee Distribution).
Michel Prada was appointed Chairman of the IFRS Foundation Trustees, effective 1 January 2012.
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Michel Prada, Chairman of the Trustees
Chairman of the Conseil de normalisation des Comptes publics; Former Chairman of the Autorité des Marchés Financiers (AMF); former Chairman of the Executive and Technical Committees of the International Organization of Securities Commissions (IOSCO)
(France)
Term expires: December 2017
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Ronald Arculli, Vice-Chair
Chair of Board of FWD Group (the insurance arm of Pacific Century Group); Chair of the Honorary Advisory Committee of SVHK Foundation Limited; Chair of the Common Purpose Charitable Foundation Limited, Hong Kong; Chair of Light Be Foundation Limited; Non-Executive Director of Asia Art Archive Limited; former Chairman of the World Federation of Exchanges; former Chairman of Hong Kong Exchanges and Clearing Limited.
Term expires: December 2017
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Sheila Fraser, Vice-Chair
Board member of Manulife Financial Corp and Bombardier; former member of the International Public Sector Accounting Standards Board (IPSASB); former Auditor General of Canada; former Chair of the Canadian Public Sector Accounting Board
(Canada)
Term expires: December 2018
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Guillermo Babatz
Managing Partner at Atik Capital, S.C.; former Executive Chairman of Comisión Nacional Bancaria y de Valores (CNBV); former Chief Executive Officer of Sociedad Hipotecaria Federal (SHF)
(Mexico)
Term expires: December 2018
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Alan Beller
Partner at Cleary Gottlieb Steen & Hamilton LLP; member of the Board of Directors of The Travelers Companies; former Director of the Division of Corporation Finance of the US Securities and Exchange Commission (SEC) and Senior Counsellor to the SEC
(United States)
Term expires: December 2017
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Chandrashekhar Bhaskar Bhave (C. B. Bhave)
Chairman of the Indian Institution for Human Settlements; Board Member of the Public Interest Oversight Board; Board Member of Mahindra and Mahindra Financial Services Limited; Board Member of Avenue Supermarts Limited; Member of the Board of Trustees of the Independent Public Spirited Media Foundation; Member of the Regulatory Committee of the Abu Dhabi Global Markets; former Chairman of the Securities and Exchange Board of India.
Term expires: December 2017
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Else Bos
Chief Executive Officer of PGGM in the Netherlands and member of the Dutch Monitoring Committee for Corporate Governance.
Term expires: December 2019
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Werner Brandt
Former Chairman of the Board of the German Financial Reporting Enforcement Panel (FREP); member of the Supervisory Board of several prominent German companies; former member of the Board of the Accounting Standards Committee of Germany (DRSC)
(Germany)
Term expires: December 2017
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Dr Abdulrahman Al-Humaid
Chairman of the Board of Directors (Bank Albilad), Chairman of the Committee for Adopting International Accounting Standards of the Saudi Organization of Certified Public Accountants (SOCPA); former Chairman of the Saudi Accounting Standards Committee; member of the Board of various companies listed on the Saudi exchange
(Saudi Arabia)
Term expires: December 2018
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Su-Keun Kwak
Professor of Accounting at Seoul National University and member of the Korea Accounting Standards Board’s Strategic Advisory Committee.
Term expires: December 2019
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Sir Callum McCarthy
Non-executive director of Industrial and Commercial Bank of China and Intercontinental Exchange; former Chairman of the Financial Services Authority (FSA)
(United Kingdom)
Term expires: December 2017
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Wiseman Nkuhlu
Chairman of Rothschild SA Ltd; Chairman of the Chartered Director Governing Body; Deputy Chairman of AngloGoldAshanti Ltd.; former Economic Adviser to former South African President Thabo Mbeki; former President of the South African Institute of Chartered Accountants; former Chairman of the South African Council of Higher Education.
Term expires: December 2018
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Joji Okada
Audit & Supervisory Board Member of Mitsui & Co., Ltd.
Vice Chairperson of Japan Audit & Supervisory Board Members Association
(Japan)
Term expires: December 2018
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Marco Onado
Senior Professor of Financial Institutions at the Bocconi University, Milan, Italy; Chairman of Pioneer Global Asset Management
(Italy)
Term expires: December 2017
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James (Jim) Quigley
CEO Emeritus, former Senior Partner, Deloitte U.S; former CEO of Deloitte, Touche & Tohmatsu Limited (DTTL) Chairman of the Board for HESS Corporation; Member of the Board of Directors of Wells Fargo & Company; Board member of Merrimack Pharmaceuticals, Inc.; Board member of the German Marshall Fund of the United States
(United States)
Term expires: December 2017
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Maria Helena Santana
Non-executive director and chairman of the Audit Committee of Totvs S.A.; Non-executive director and chairman of the Corporate Governance Committee of Companhia Brasileira de Distribuicao S.A.; Non-executive director of the Bolsas y Mercados Espanoles; Member of the Audit Committee of Itau Unibanco Holding S.A.; former Chair and President of the Brazilian Securities and Exchange Commission; former Chair of IOSCO’s Executive Committee; former member of the International Integrated Reporting Council.
Term expires: December 2019
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Takafumi Sato
President of Japan Exchange Regulation; former Commissioner of the Financial Services Agency from 2007 to 2009; former member of the IFRS Foundation Monitoring Board
(Japan)
Term expires: December 2017
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Kurt Schacht
Managing Director, CFA Institute Standards and Advocacy Division;
Chairman, former US Securities and Exchange Commission’s Investor Advisory Committee
(United States)
Term expires: December 2017
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Lynn Wood
Former
Chairman of the Financial Reporting Council (Australia) and former board
member of the External Reporting Board (NZ), the Foreign Investment Review
Board (Australia), Schroders Australia, HSBC Bank Australia, MS Australia and
the Committee for Economic Development of Australia.
(Australia)
Term expires: December 2019
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Guangyao Zhu
Vice Finance Minister at China’s Ministry of Finance and Chairman of Accounting Society of China.
Term expires: December 2019
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