Notícias sobre o novo chefe do Iasb VII

LONDON, Oct 12 (Reuters) - Hans Hoogervorst, head of the Dutch markets regulator AFM, was named as the new chairman of the International Accounting Standards Board (IASB), marking a new emphasis on winning political support for its global rules.

Hoogervorst, a former Dutch government minister, will take up the full-time position for an initial five-year period after current chairman David Tweedie steps down in June 2011, the board's trustees said in a statement.

Ian Mackintosh, current head of the UK accounting standards board, has been appointed in the new post of vice-chairman.

The selection of another European to replace Tweedie will please European Union governments and lawmakers who have complained the IASB is not transparent or accountable enough in its workings.

Tweedie, a Scot and an accountant by training, has been chairman for 10 years -- effectively from the IASB's start -- and his sometimes feisty, technical approach has ruffled feathers of politicians in the EU and United States.

Mackintosh is a former chief accountant of the Australian Securities and Investment Commission and his appointment will help address concerns in Asia that the London-based IASB is too heavily influenced by Europe.

"The geographical span is broadened and I think this should be welcomed," said Tommaso Padoa-Schioppa, who chairs the IASB's trustees.

"I don't expect a change of policy," Padoa-Schioppa told Reuters in a telephone interview from Seoul where the IASB's trustees voted unanimously for the changes.

Hoogervorst said investor protection, a single global set of accounting rules and independent standard-setting "will remain my priorities".

DIPLOMAT

The IASB has emerged as a powerful, global lawmaking body, its standards used in over 100 countries -- they are mandatory for the 8,000 listed companies in the European Union but not used in the United States.

The IASB is locked in talks with its U.S. counterpart, the Financial Accounting Standards Board (FASB), to converge their rules into a single set of global standards, as called for by the Group of 20 leading countries.

The U.S. Congress has been wary of adopting IASB rules, which would effectively give up sovereignty in standard-setting to a board seen as having been swayed by European influence, even though Congress forced FASB to make changes too.

The need to win over U.S. lawmakers to adopt IASB rules and to keep EU politicians fully on board is a task that now requires strong diplomatic skills.

Padoa-Schioppa said the new chair was chosen for his extensive global diplomatic and policymaking background -- Hoogervorst is not an accountant by training.

The role of overseeing the technical detail of IASB rules can then be left to Mackintosh, a veteran accountant, who can reassure the industry that rulemaking will independent.

"There is clearly a different profile for the new chairman," Padoa Schioppa said.

"He has a lot of diplomatic skills and the trustees felt this was the appropriate profile for the future chairman. He also has strong experience in investor protection practices which is one of the main concerns of the trustees," Padoa Schioppa said.

Michael Izza, chief executive of the ICAEW, an accounting industry body, said Hoogervorst's appointment heralds a new era for financial reporting and the board should continue to persuade the United States to adopt IASB rules.

"It is critical that Mr Hoogervorst engages with key IFRS stakeholders across the world at an early stage to understand their views and concerns," Izza said.

EU Internal Market Commissioner Michel Barnier said he looked forward to working with Hoogervorst to continue "strengthening the governance and accountability of the IASB".

The board has already begun reforming its fair value or mark-to-market rule which came under fire at the height of the financial crisis.

It forced banks to value assets at the depressed going rate, triggering firesales and heavy pressure from EU finance ministers and the European Commission to water it down.

But FASB has proposed extending the use of mark-to-market, helping to slow down convergence with IASB rules so that a June 2011 set by the G20 for reaching a full single set of global standards will now be missed by several months at least.

"Convergence is important but ultimately what really matters is adoption of IFRS by the United States... which is strongly backed by the G20," Padoa-Schioppa, a former Italian treasury minister, said.

UPDATE 2-Dutchman Hoogervorst to chair IASB accounts body - 12 October 2010 - Reuters News - Huw Jones

Notícias sobre o novo chefe do Iasb VI

Neste texto, o WSJ destaca a questão política na escolha:

On the face of it, a former Dutch finance minister with no accountancy qualifications is an odd choice to succeed David Tweedie as chairman of the International Accounting Standards Board. Hans Hoogervorst was only appointed at the eleventh hour after European politicians effectively vetoed Ian Mackintosh, an Australian standard-setter who had emerged as front-runner following an exhaustive yearlong search. For a body that prides itself on its independence, analytical rigor and commitment to the needs of investors, the decision to appoint a politician as chairman looks ominous.

In fact, Mr. Hoogervorst, who is currently chairman of the Dutch securities and markets regulator, may turn out to be an inspired choice. As co-chairman of the Financial Stability Action Group, a high-level global committee set up to advise both the IASB and the U.S.'s Financial Accounting Standards Board, he came out strongly in favor of accounting transparency and the need for global accounting convergence.

What is more, Mr. Hoogervorst's political skills and experience should be an asset to the IASB as it tries to improve its frequently strained relations with the European Union over its perceived lack of accountability. His relationship with FASB should help keep global efforts to achieve accounting-standards convergence on track. The appointment of Mr. Mackintosh as deputy chairman will further reassure practitioners that the IASB remains committed to high-quality independent standards.

The IASB has changed beyond recognition since it was set up nine years ago. From a scrappy start-up providing a parallel internationally comparable basis for accounts used in only a handful of countries, it is now a global body whose standards have been adopted by 130 countries, including every major economy with the exception of the U.S. It is a tribute to Sir David's success that the IASB has needed to turn to two people to replace him.

The Politicization of Global Accounting - Simon Nixon - 12 October 2010 - The Wall Street Journal (Online and Print)

Notícias sobre o novo chefe do Iasb V

The top securities regulator of the Netherlands was named to head the panel that sets global accounting rules.

Hans Hoogervorst, chairman of the Netherlands Authority for the Financial Markets, will become chairman of the International Accounting Standards Board in June. He was appointed by the trustees of the IFRS Foundation, which oversees the IASB's operations and selects its members.

Mr. Hoogervorst, a former Dutch finance minister, will succeed Sir David Tweedie of the U.K., who is retiring.

As chairman, Mr. Hoogervorst will play a key role in accounting "convergence," the effort to bring U.S. and international accounting standards closer together. Accounting rule makers have long wanted a single set of accounting rules to apply world-wide, as opposed to the current system in which international rules differ in some respects from U.S. generally accepted accounting principles. U.S. regulators are slated to decide next year on whether to adopt International Financial Reporting Standards, as the global rules are known, for American companies.

"I strongly believe that a global set of accounting standards...is an essential component for the world's financial markets," Mr. Hoogervorst said in a statement.

The IFRS Foundation also named Ian Mackintosh vice chairman of the IASB. Mr. Mackintosh, a New Zealand native, is a former chief accountant of the Australian Securities and Investment Commission and currently serves as chairman of the U.K. Accounting Standards Board.

Hoogervorst Is Tapped to Head Global Accounting Board - Michael Rapoport -
12 October 2010 - The Wall Street Journal (Online and Print)

Notícias sobre o novo chefe do Iasb IV

Hans Hoogervorst, co-chair of the committee that helped steer accounting standard-setters through the financial crisis, will replace Sir David Tweedie at the IASB.

Former Dutch finance minister Hans Hoogervorst has been tapped to succeed Sir David Tweedie as chairman of the International Accounting Standards Board. The appointment was announced Tuesday by the trustees of the IFRS Foundation, the parent organization of the IASB.

Tweedie, who will step down at the end of June 2011, has been the only chairman of the IASB since its founding in 2001. His legacy undoubtedly will be his effort to establish international financial reporting standards as a global set of rules. Today, IFRS has been adopted by more than 100 countries.

Hoogervorst is currently chairman of the Netherlands Authority for the Financial Markets, the Dutch securities and market regulator; chairman of the technical committee of the International Organization of Securities Commissioners; and co-chair of the Financial Crisis Advisory Group (FCAG), an independent body of senior leaders formed to advise accounting standard-setters on their response to the global financial crisis. He is also chair of the IFRS Foundation Monitoring Board. He will give up these roles when he joins the IASB next summer.

Hoogervorst's experience and background made him an "immensely attractive" candidate, says Robert Glauber, vice chair of the IASB trustees, the group that appoints board members. "On the crucial issue of independence, his record is crystal clear: he is deeply committed to investor protection and to the independence of standard setting, and he is willing to stand up and speak strongly in defense of what he believes."

Board independence became a high-profile issue during the height of the financial crisis. At the time, politicians from the European Union forced the IASB to circumvent its due process and quickly push out accounting rules related to financial instruments as a way of addressing a perceived disadvantage between U.S. and EU corporations. Hoogervorst will "strongly" defend the board's independence, "partly because of his background and partly because of his personality," says Tom Jones, former vice chair of IASB and currently director of Pace University's Center for the Study of International Accounting Standards. "You can't set standards by negotiation, it's impossible, and [Hoogervorst] is the guy that knows that well," says Jones.

Indeed, in a May 2009 interview with CFO, Hoogervorst spoke candidly about the forces that strong-armed the IASB during the financial crisis. The banks and politicians who apply "continuous pressure" on standard-setters to alter fair-value and impairment rules have "no natural interest in transparency," he said. As co-chair of the FCAG, he said he felt "increasingly uncomfortable" with the "lopsided" standards that could result if the politicians got their way.

Hoogervorst's appointment comes two weeks after Robert Herz announced his retirement as chairman of the Financial Accounting Standards Board. Herz left FASB 2 years shy of his second term, while Tweedie is finishing out his 10-year stint at the IASB.

Former Dutch Regulator to Head IASB - Marie Leone - 12/10/2010

Parmalat

MILÃO (AFP) - O tribunal de Milão (norte da Itália) aceitou o pedido de prisão apresentado pela promotoria contra Calisto Tanzi, ex-dono do grupo Parmalat, cuja falência em 2003 deixou um rombo de 14 bilhões de euros, informaram nesta terça-feira fontes judiciais.

Tanzi, de 71 anos, que se encontra livre devido à idade, não será preso até que a corte de cassação se pronuncie em definitivo.

Os advogados do ex-fundado e ex-dono da Parmalat anunciaram que apresentarão um recurso ante o tribunal.

Tanzi foi condenado em 2008 a dez anos de prisão por informação privilegiada no mercado de ações e cumplicidade em falsos balanços, pena confirmada em maio passado.

Tribunal italiano aceita pedido de prisão de ex-dono da Parmalat
Ter, 12 Out, 04h51

Notícias sobre o novo chefe do Iasb III

Michel Barnier, the EU's internal market commissioner, has hailed the appointment of ex-Dutch Finance Minister Hans Hoogervorst as head of the International Accounting Standards Board, the international standard-setter. He will take over from David Tweedie, the sitting head, next June. The move will be closely watched by European policy makers anxious to push the US to adopt the IASB's new International Financial Reporting Standards (IFRS), which are currently being absorbed into EU law. "IFRS are the only credible option if we want to create a single accounting framework for listed companies worldwide," Barnier said in a statement, on 12 October. The US intends to make a decision next year on whether it will change over from its GAAP (Generally Accepted Accounting Principles) system, although the problem of how to value assets in the event of future market crashes continues to cause divisions on both sides of the Atlantic.

BARNIER WELCOMES NEW IASB HEAD - Europolitics

(ADPnews) - Oct 12, 2010 - The International Accounting Standards Board (IASB) on Tuesday named Hans Hoogervorst its new chairman, replacing Sir David Tweedie, the Financial Times reports.

The former finance minister of the Netherlands, who now heads the country's stock market regulator, is to take the place of Tweedie, who has held the post for ten years, at the end of next June.

The appointment of Hoogervorst, who is not an accountant but a former politician, reflects the important role ascribed to accounting by governments after the financial crisis.

Ian Mackintosh, who heads the UK Accounting Standards Board and was tipped by some as the front-runner to replace Tweedie, was named vice-chairman of the IASB, which sets the International Financial Reporting Standards.

Hans Hoogervorst to become IASB chairman
British Business Monitor

Notícias sobre o novo chefe do Iasb II

A notícia da Nova Zelândia destaca Ian Mackintosh, o "preterido":

Wellington, Oct 13 NZPA - A New Zealand accountant who missed out on replacing the ground-breaking British chairman of the International Accounting Standards Board (IASB) has been appointed deputy to a former Dutch politician, Hans Hoogervorst, who took the job.

New Zealander Ian Mackintosh -- who currently chairs the UK Accounting Standards Board -- is reported to have been considered a front-runner to replace the outgoing chairman, Sir David Tweedie, but "apparently the idea of naming two IASB chairmen in a row from the UK proved to be too much to stomach", according to an accountancy news website, WebCPA.

The Wall Street Journal reported that Mr Hoogervorst -- currently Holland's top securities regulator -- was only appointed at the eleventh hour after European politicians effectively vetoed Mr Mackintosh, who had emerged as front-runner following an exhaustive year-long search.

Mr Mackintosh has previously worked in Australia for Coopers and Lybrand, and as a consultant in his own practice, and is a former chief accountant of the Australian Securities and Investment Commission.

The New Zealander and the Dutchman will be taking over from Sir David, a Scotsman who has chaired the IASB for 10 years and will be retiring when his term expires next June.

Sir David has made it his mission to spread International Financial Reporting Standards (IFRS) across the globe, with the major holdout being the United States, and the transition in leadership has raised a question over whether the USA will continue moving towards adopting a comparable standard.

The Securities and Exchange Commission will make a decision next June on whether the process is sufficiently advanced to allow IFRS to be incorporated into the US financial reporting system.

Mr Mackintosh and Mr Hoogervorst will have a full agenda as they try to make sure the US and the rest of the world don't give up on the IFRS standard, while also doing more outreach to Africa, Asia and Latin America to spread the global accounting standards, the website reported.

NZ expert relegated to deputy of accounting body - New Zealand Press Association