IFRS Foundation Announces Appointments and Reappointments to the Interpretations Committee

In a press release published on 9^th May, The IFRS Foundation Trustees have announced the news of several appointments to the Interpretations Committee of the Foundation (IFRIC). The news revealed that Dr Martin Schloemer, Tony de Bell and Reinhard Dotzlaw will be appointed as new members of the committee. They replace departing members Guido Fladt, Andrew Vials, Bernd Hacker and Margaret Smith. Feilong Li has been reappointed for a second term in the committee.

Additionally, in an effort to increase the number of accountancy firms within IFRIC membership, the Trustees have appointed Andrew Buchanan and Andrew Watchman to a single rotating seat of 3 year term. All the new appointees will begin serving in their new roles 1^st July, 2013 onwards. Feilong Li’s current term with IFRIC ends in June and he will also begin his 2^nd term on 1^st July. The terms of all new appointees to the IFRIC are renewable once. Andrew Watchman will join the rotating seat on 1^st July as well. After his 3-year term, Andrew Buchanan will take over his role on 1^st July, 2016.

All the new members well known global figures in the financial reporting realm and are expected to enrich the committee with their valuable presence. Reinhard Dotzlaw represents Canada in the Global IFRS panel of KPMG, Mr de Bell is one of the members of the Global Accounting Consulting Services Leadership Team in UK with PricewaterhouseCoopers and Dr Martin Shloemer Heads the department of Accounting Principles and Policies at Bayer AG’s Germany office. Mr Watchman is the Executive Director of International Financial Reporting at the United Kingdom branch of Grant Thornton and Mr Andrew Buchanan is the Global head of IFRS in BDO.

Mr Robert Glauber, the Chairperson of the Nominating Committee of the Trustees mentioned in a statement that he welcomes Tony de Bell, Martin Schloemer, Reinhard Dotzlaw and Andrew Watchman in the committee and eagerly looks forward to Andrew Buchanan’s appointment in future. He has thanked Bernd Hacker, Andrew Vials and Peggy Smith for their invaluable contribution to the committee. He also added that he is delighted to have Feilong Li serving a second term and mentioned that the experience of the new members’ will surely help the committee in achieving its goals.