The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB) have appointed Sue Lloyd as the new vice chair of the Board, effective Nov. 1.

The IASB is responsible for setting IFRS Standards, which are required by more than 120 jurisdictions around the world. As vice chair, Lloyd will work closely with IASB Chairman Hans Hoogervorst.

Lloyd, who has been employed by the IFRS Foundation since 2009, was director of capital markets and senior director of technical activities before being appointed as a Board member in 2014. She has experience in investment banking both from the U.K. and Australia, and is a former member of the Australian Accounting Standards Board.

She replaces Ian Mackintosh, who served as vice chair from 2011 to 2016. Her term expires on Dec. 31, 2018 but can be renewed for a second term.