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International Accounting Standards Committee

The Trustees of the International Accounting Standards Committee (IASC) Foundation announced the appointment of Philippe Danjou of France and the reappointment of existing members Hans-Georg Bruns, Warren McGregor, and Tatsumi Yamada to the International Accounting Standards Board (IASB). Mr Danjou will replace Geoffrey Whittington, who is retiring from the IASB after serving a full five-year term, and will join the IASB in November 2006. The terms of the four IASB members will expire on 30 June 2011. Mr Danjou brings a broad range of experience relevant to standard-setting and the application of International Financial Reporting Standards (IFRSs). Since 1997, Mr Danjou has served as the director of the accounting division of the Autorité des Marchés Financiers (AMF), the French independent agency in charge of capital markets regulation and oversight. In that position, he has been responsible for the enforcement of accounting standards by listed companies in France at a time where IFRSs were being implemented.

Mr Danjou has played an active role on international accounting matters, representing the AMF at the Committee of European Securities Regulators (CESR) and the International Organization of Securities Commissions (IOSCO). Prior to joining the AMF (previously Commission des Operations de Bourse) in 1997, Mr Danjou was an audit partner at Arthur Andersen, serving both industrial and financial firms. Mr Danjou has served in a number of standard-setting organisations on the national and international level and has been a member of the IASB’s Standards Advisory Council since 2001. Dr Bruns and Messrs McGregor and Yamada have each made important contributions to the IASB and have played crucial roles in liaison in their home countries of Germany, Australia, and Japan, respectively.

Publicly traded companies in Germany and Australia are required to comply with IFRSs, and the Accounting Standards Board of Japan and the IASB are working on a convergence project together. The reappointments follow consideration of other candidates who had the opportunity to put their names forward. In announcing these appointments, Philip Laskawy, Chairman of the Trustees, said: We are delighted that Hans-Georg Bruns, Warren McGregor, and Tatsumi Yamada have agreed to accept reappointment and that we were able to find someone with the breadth of experience with and knowledge of IFRSs as Philippe Danjou to join the IASB. The Trustees believe that Mr Danjou’s experience as a regulator involved with the implementation of IFRSs in France and in Europe more broadly will be particularly relevant as the IASB pursues its existing work programme. The Trustees also wish to express their deep appreciation to Geoff Whittington for his outstanding accomplishments on behalf of the organisation.

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