The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board, have appointed Steve Lim to the IFRS Advisory Council, effective as of April 1.
The IFRS Advisory Council is the formal advisory body to the Trustees and the International Accounting Standards Board (IASB). It advises the Trustees as well as the IASB on their strategic direction, technical work plan, and priorities. Meetings with the IFRS Foundation are held three times a year.
Lim is an Advisor to the Korea Accounting Standards Board (KASB) having previously served as chair and vice chair of the KASB, and vice chair of the Asian-Oceanian Standard-Setters Group. He also is a Professor of Accounting at the University of Seoul.
The Advisory Council consists of a wide range of representatives from groups that are affected by, and interested in, the IASB's work. These include investors, financial analysts and other users of financial statements, as well as preparers, academics, auditors, regulators, professional accounting bodies and standard-setters.
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