Changing of the guard at the IASB.

• Author: Ladd, Scott
• Position: FINANCIAL OVERSIGHT - Appointment of Hans Hoogervorst at International Accounting Standards Board

Hans Hoogervorst, the current chairman of the Netherlands Authority for the Financial Markets, has been chosen to succeed the retiring Sir David Tweedie as chairman of the International Accounting Standards Board, effective June 2011.

During Tweedie's 10-year stewardship of IASB, the organization has established International Financial Reporting Standards as the reporting guidelines (either full or partial) in more than 100 countries. As the organization's second decade begins, the IASB press release reads: "The goal of a single, high-quality and globally accepted set of accounting standards is within reach."

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It also says that the "new chairman brings a strong understanding of, and an ability to navigate through the challenges facing the IASB on the path to global IFRS adoption."

Hoogervorst was selected by the trustees of the IFRS Foundation, the oversight body of IASB. In assuming the chairmanship, Hoogervorst faces significant challenges and opportunities in navigating the final stretch before the expected full adoption of IFRS.

"As a securities and market regulator I have investor protection in my DNA," Hoogervorst said in a prepared statement. "I strongly believe...