11 April 2014
The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), announced today the appointment of Dr Steve Lim to the IFRS Advisory Council.
Dr Lim is an Advisor to the Korea Accounting Standards Board (KASB) having previously served as Chair and Vice-Chair of the KASB and Vice-Chair of the Asian-Oceanian Standard-Setters Group. He is also Professor of Accounting at the University of Seoul. Dr Lim´s appointment commenced on 1st April 2014.
The IFRS Advisory Council is the formal advisory body to the Trustees and the IASB. It advises the Trustees as well as the IASB on their strategic direction, technical work plan and priorities. Meetings with the IFRS Foundation are held three times a year.
The Advisory Council consists of a wide range of representatives from groups that are affected by, and interested in, the IASB's work. These include investors, financial analysts and other users of financial statements, as well as preparers, academics, auditors, regulators, professional accounting bodies and standard-setters.
Commenting on the announcement, Robert Glauber, Chairman of the Trustees´ Nominating Committee said;
“We welcome Steve to the IFRS Advisory Council. As well as his extensive experience as a standard-setter with the KASB, Steve has also worked across multiple business sectors and academia. We look forward to benefiting fully from his valuable insights."
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