Mary Tokar Named to IASB Board; Term Begins Jan. 2013

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The IFRS Foundation, which oversees the IASB, recently named Mary Tokar of the U.S. as a member of the International Accounting Standards Board. As noted in the IASB's Nov. 15 Press release: Ms Tokar is a highly-respected figure in the field of international financial reporting. She has served for more than 10 years as the global leader for KPMG’s International Financial Reporting Group, leading KPMG’s dialogue with the global accounting regulatory and standard-setting communities. Ms Tokar has significant experience in the application of International Financial Reporting Standards (IFRSs) in both developed and emerging economies, having worked with KPMG engagement teams and clients around the world in their transition to and application of IFRSs. She served as a member of the IFRS Interpretations Committee between 2001 and 2007 and is a KPMG global leader in the fields of employee benefits and share-based payments. Previously, Ms Tokar worked at the US Securities and Exchange Commission (SEC) as the Senior Associate Chief Accountant, International, in the Chief Accountant’s Office. At the SEC Ms Tokar was the lead SEC representative for international accounting issues, and she chaired an international committee of securities regulators working on disclosure and accounting issues for the International Organization of Securities Commissions (IOSCO). Tokar's three-year term begins Jan. 1, 2013, and ends Jan. 1, 2017. Her appointment fills the vacancy created by the retirement from the board of Paul Pacter at the end of the year. See all the IASB board members here. My two cents: (please refer to the disclaimer on the right side of http://www.financialexecutives.org/blog): I had the pleasure of crossing paths with Mary during a couple of years when we both worked in the Office of the Chief Accountant of the SEC and she was always very professional and pleasant and always knew her stuff. I remember her office was always filled to the ceiling with books and binders (and cases for travel) and she was happy to answer questions after she left the SEC as well. I wish her the best of luck in her new position.

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