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June 20, 2012

IESBA appoints chairman

The International Federation of Accountants (IFAC) has appointed Jörgen Holmquist as first independent chair of the International Ethics Standards Board for Accountants (IESBA), beginning September 2012 for a three-year term.

Holmquist, who has been a public member of the IESBA since 2011, previously served in the Swedish Ministry of Finance for 20 years and in the European Union Internal Market and Services, where he was responsible for developing the EU regulatory response to the financial crisis.

“Convergence to a single set of high-quality ethical standards will contribute to efficient, sustainable, and vibrant capital markets and is in the public interest,” Holmquist said.

The IESBA, supported by the IFAC, is an independent standard-setting board charged with developing the Code of Ethics for Professional Accountants, which establishes ethical requirements for professional accountants.

The appointment of an independent chair for the IESBA was recommended by the Monitoring Group in its 2010 Review of the IFAC Reforms — Final Report.


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