|
  Doug Hyndman, Chair, Accounting Standards Oversight Council, is pleased to announce that Tricia O’Malley has been appointed Chair of the Accounting Standards Board (AcSB) to succeed Paul Cherry in mid-June. Tricia is currently the Director of Implementation Activities at the International Accounting Standards Board (IASB) with responsibility for supporting the International Financial Reporting Interpretations Committee’s development of official interpretations of International Financial Reporting Standards (IFRS). She is also responsible for the Annual Improvements project and the standard covering first-time adoption of IFRS. Previously, Tricia was a founding member of the IASB and served on that Board from April 1, 2001 to June 2007. Tricia was also the first full-time Chair of the AcSB in Canada from 1999 to 2001, when under her leadership, the AcSB approved the issue of differential reporting standards for non-publicly accountable enterprises. Mr. Hyndman is also pleased to announce that Paul Cherry, whose term was due to expire on March 31, has agreed to continue as Chair of the AcSB until Ms. O’Malley’s term begins. “I am delighted with Tricia’s appointment at this momentous time for financial reporting in Canada”, said Mr. Hyndman. “No one in Canada has a better knowledge of, or experience of working with and interpreting, IFRS than Tricia O’Malley.” He continued, “I am also very grateful to Paul Cherry, not only for agreeing to extend his term, but more importantly, for his inspired leadership over the last eight years which has left a significant legacy in the field of financial reporting in Canada. Paul has been the driving force in transitioning Canada to IFRS. His appointment as Chair of the IASB’s Standards Advisory Council illustrates the worldwide esteem in which he is held.” |
