The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), recently announced the appointment of Gavin Francis and Goro Kumagai as Vice-Chairs to the IFRS Advisory Council.
The IFRS Advisory Council, a formal advisory body to the IASB and the IFRS Foundation Trustees, is made up of representatives from over 40 different groups and membership organizations from around the world, representing preparers, financial analysts, academics, auditors, regulators, professional accountancy bodies and investors. The IFRS Advisory Council is chaired by Joanna Perry, former chairman of the New Zealand Financial Reporting Standards Board.
Francis represents the Institute of International Finance, the global association of the financial industry, on the IFRS Advisory Council. He is deputy group chief accounting Officer at HSBC Holdings. Previously, Francis was technical director for capital markets at the IASB and has also spent 15 years in investment banking in New York and London with Salomon Brothers/Citibank.
Kumagai represents the Securities Analysts Association of Japan on the IFRS Advisory Council. He is a Senior Fellow of the Strategic Research Department at Mizuho Securities, the investment banking/brokerage arm of Mizuho Financial Group, and teaches as a Visiting Professor at the Graduate School of Management at Kyoto University. Previously, he was a portfolio manager at Nomura Asset Management. He also has many years’ experience as a financial analyst.
The IFRS Advisory Council advises the IFRS Foundation on its strategic direction, technical work plan and priorities. The IFRS Advisory Council meets three times a year.