Paul Cherry to Chair Standards Advisory Council

The Trustees of the International Accounting Standards Committee (IASC) Foundation, the body that oversees the International Accounting Standards Board (IASB), announced today that Paul Cherry has been appointed as Chairman of the Standards Advisory Council for three years beginning on 1 January 2009. He succeeds Professor Nelson Carvalho, whose term expires at the end of this year.

Cherry is the Chairman of the Canadian Accounting Standards Board (AcSB), from which he will step down at the end of March 2009. In that role he has spearheaded Canadian work on IFRS convergence and adoption, which will culminate in the use of IFRSs by public companies in Canada in 2011. Before joining the AcSB in 2001, he served as a partner in PricewaterhouseCoopers in Canada and as chief accountant of the Ontario Securities Commission.

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