23 February 2015
The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), have today announced the appointment of Gavin Francis and Goro Kumagai as Vice-Chairs to the IFRS Advisory Council.
The IFRS Advisory Council is a formal advisory body to the IASB and the IFRS Foundation Trustees. It is made up of representatives from over 40 different groups and membership organisations from around the world, representing preparers, financial analysts, academics, auditors, regulators, professional accountancy bodies and investors. The IFRS Advisory Council is chaired by Joanna Perry, former Chairman of the New Zealand Financial Reporting Standards Board.
Gavin Francis represents the Institute of International Finance, the global association of the financial industry, on the IFRS Advisory Council. He is Deputy Group Chief Accounting Officer at HSBC Holdings plc. Previously, Mr Francis was Technical Director for Capital Markets at the IASB and has also spent 15 years in investment banking in New York and London with Salomon Brothers/Citibank.
Goro Kumagai represents the Securities Analysts Association of Japan on the IFRS Advisory Council. He is a Senior Fellow of the Strategic Research Department at Mizuho Securities Co. Ltd., the investment banking/brokerage arm of Mizuho Financial Group, and teaches as a Visiting Professor at the Graduate School of Management at Kyoto University. Previously, he was a Portfolio Manager at Nomura Asset Management. He also has many years’ experience as a financial analyst.
Chair of the Trustees’ Nominating Committee, Sheila Fraser, commented:
“The IFRS Advisory Council consists of representatives from a wide range of organisations and serves as a valuable sounding board for the IASB. I am pleased that Gavin and Goro have accepted their appointments as Vice-Chairs to the Council.”
The IFRS Advisory Council advises the IFRS Foundation on its strategic direction, technical work plan and priorities. The IFRS Advisory Council meets three times a year.