23 May 2013
The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), announced today the appointment of Sue Lloyd to serve as a member of the IASB for an initial five-year term, renewable for a further three years.
Ms Lloyd currently serves as a Senior Director of Technical Activities at the IASB. In this capacity, she is responsible for leading the technical staff in the development of new International Financial Reporting Standards (IFRSs), in particular leading the current agenda. Prior to this role, Ms Lloyd served as the IASB´s Director of Capital Markets, with responsibility for the IASB´s work to reform the accounting for financial instruments.
Prior to joining the staff of the IASB, Ms Lloyd held various senior positions within the banking sector in the United Kingdom and in Australasia. Ms Lloyd, originally from New Zealand, is a former member of the Australian Accounting Standards Board. Ms Lloyd´s appointment to the IASB follows the notification to the Trustees by Prabhakar Kalavacherla (PK) that he will retire from the IASB on 31 December 2013 having served a full, five-year term. Accordingly, Ms Lloyd´s appointment to the IASB will commence on 1 January 2014.
Commenting on the appointment, Robert Glauber, Chairman of the Trustees´ Nominating Committee, said:
Sue is a well-known and highly regarded member of the international standard-setting community and will be a tremendous asset to the Board. She has provided outstanding leadership to the IASB´s technical staff over the last few years.
I would also like to place on record my thanks to PK, who has served admirably as a member of the IASB and has significantly strengthened the Board´s relationships across Southern Asia.
Hans Hoogervorst, Chairman of the IASB, said:
This is an excellent appointment. Sue has led our work to reform financial instruments accounting, championed efforts to enhance technical outreach around the world and strengthened our cooperation with other international organisations.
I also want to thank PK for the tremendous contribution he has made during his time as a member of the IASB, especially for his work on the leases and revenue recognition projects.
Sue Lloyd said:
Throughout my career I have had a strong interest in high quality financial reporting, having previously served as a member of the Australian Accounting Standards Board and more recently as a Senior Director of the IASB. I am both honoured and delighted to now serve as a member of the IASB from 2014.
End
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Notes to editors
Appointments to the
IASB
The IASB is comprised of up to 16 members. The main
qualification for membership of the IASB is professional competence and
practical experience. The Trustees select members of the IASB, consistently with
the criteria for IASB members set out in the Constitution, so that it will
comprise of a group of people representing, within that group, the best
available combination of technical expertise and diversity of international
business and market experience in order to contribute to the development of high
quality, global financial reporting standards. The members of the IASB are
required to commit themselves formally to acting in the public interest in all
matters.