First Trustee from Middle Eastern region appointed to the IFRS Foundation

 21 March 2013

The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), today announced the appointment of Dr Abdulrahman Al-Humaid as a Trustee of the IFRS Foundation.  Dr Al-Humaid´s appointment, approved by the IFRS Foundation Monitoring Board, will begin with immediate effect and will expire on 31 December 2015, renewable once for a further three-year period.

Dr Al-Humaid has for more than 30 years held leadership roles within various accounting and financial services activities, both within his home jurisdiction of Saudi Arabia as well as in the broader Middle Eastern region.  He chairs the Committee for Adopting International Accounting Standards of the Saudi Organization of Certified Public Accountants (SOCPA), having served as the Chairman of its Accounting Standards Committee from 1996 until 2002.  In addition to his responsibilities in the field of accounting, Dr Al-Humaid serves as a member of the Board of various companies listed on the Saudi exchange.

Dr Al-Humaid received his Ph.D. in Accounting from Louisiana State University and his Bachelor's degree in Accounting from King Saudi University in Riyadh, Saudi Arabia. He worked as a Professor of Accounting at King Saud University from 1982 to 2008 and has published several books on accounting theory and practice.

Commenting on the appointment, Robert Glauber, Chairman of the Trustees´ Nominating Committee, said:

"Dr Al-Humaid´s appointment reflects growing support for IFRSs across the entire Middle Eastern region.  His experience will be of great benefit as we work to ensure that IFRSs can be applied across all regions of the world."

Commenting on his appointment, Dr Al-Humaid said:

"I hope that my appointment will add value to the global accounting practices, especially in the MENA region. I look forward to exchanging experiences and views with my fellow Trustees that will assist in applying IFRSs across the world"