The International Financial Reporting Standards Foundation (IFRSF) announced on Feb. 21 that Gary R. Kabureck was appointed a member of the International Accounting Standards Board (IASB), effective April 2013. Kabureck was vice president and chief accounting officer at Xerox Corp., and is vice chairman of Financial Executives International's (FEI) Committee on Corporate Reporting (CCR).
The IASB's press release notes: "Mr. Kabureck is a prominent and highly-respected financial reporting practitioner, with 28 years of experience at the Xerox Corp., culminating in his current position, in which he has global responsibility ... at the $22 billion technology and services company [which] operat[es] in more than 160 countries ... for both [International Financial Reporting Standards (IFRS)J and U.S. GAAP 'generally accepted accounting principles] accounting processes and a team of more than 1,200 accountants worldwide, ]in addition to] oversight of Xerox's accounting policy development, implementation of new accounting procedures, internal and external financial reporting, as well as internal controls." Prior to joining Xerox, Kabureck worked for PwC for 10 years.
The IASB's press release also speaks of Kabureck's longstanding experience with FEI and its Committee on Corporate Reporting, as well as his service on various standard-setting board advisory committees.
Three members of FEI staff chatted with Kabureck as he prepared to make his transition.
FEI: How has FEI membership contributed to your interest in and preparedness for the position of IASB board member?
KABURECK: As a member of FEI, I am honored to be selected to be a member of the IASB and help guide the future of accounting standard setting. I believe many career experiences and activities have led to my being selected for this great honor. Certainly, being a member of FEI's CCR enabled me to be an active part of national and global standard setting over many years, through lengthy interaction with the FASB 'Financial Accounting Standards Board', IASB, SEC IU.S. Securities and Exchange Commission] and PCAOB 'Public Company Accounting Oversight Board].
Those opportunities provided the chance not just to participate in the process, but to observe how the process works. That includes the great work the different staffs of the standard-setting organizations perform in preparing their boards to make decisions and how the IASB and the other bodies truly exist to serve the needs of users.