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IFRS Foundation appoints trustee

The IFRS Foundation has appointed Kurt Schacht as a trustee, effective immediately. His tenure will expire on 31 December 2017 and will be renewable for a further three year period.

Currently Schacht chairs the Investor Advisory Committee of the US Securities and Exchange Commission. Previously, he was managing director of the CFA Institute and served as a member of the Standing Advisory Group for the US Public Company Accounting Oversight Board (PCAOB).

Chairman of the Turstees' Nominating Committee Sheila Fraser said: "His experience and advice will greatly benefit the Trustees as we continue our work to establish IFRS as the global language of financial information."

Commenting on his appointment Schacht highlighted the challenges ahead for the adoption of global standards, which "requires perspectives and support from many jurisdictions".

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