Andreas Barckow, Honorary Professor of Accounting at WHU - Otto Beisheim School of Management and President of the Accounting Standards Committee of Germany, has been appointed the next Chairman of the International Accounting Standards Board (IASB). As of July 1, 2021, he will consequently replace the long-time Chairman Hans Hoogervorst.
The IASB is the international body of accounting experts that sets the International Financial Reporting Standards (IFRS). These define the principles according to which companies prepare their annual financial statements for the purposes of the international capital markets.
In its search for a successor for Hoogervorsts, the International Financial Reporting Standards Foundation, which was responsible for the appointment, collected nominations from around 500 organizations and ultimately considered 200 candidates from 29 different countries.