The IFRS Foundation has appointed Yong Li and
Marco Onado as trustees.

Yong Li is president of the Chinese Institute
of Certified Public Accountants and a Vice Minister of China’s
Ministry of Finance.

He has served as secretary-general of the
CICPA from 1992 to 2002 and as executive director of China ay the
World Bank.

Marco Onado is a senior professor of Financial
Institutions at the Bocconi University in Milan, Italy.

Professor Onado is a former commissioner of
Italy’s securities and markets regulator Commissione Nazionale per
le Società e la Borsa (CONSOB).

The mandate will last until 31 December 2014
and the terms are renewable once.