Patrina Buchanan and Hagit Keren appointed to the IASB

The IFRS Foundation Trustees have today announced the appointment of Patrina Buchanan and Hagit Keren to serve as members of the IFRS Foundation’s International Accounting Standards Board (IASB).

Ms Buchanan and Ms Keren each bring an in-depth understanding of technical accounting. Ms Buchanan has vast expertise in developing and maintaining IFRS Accounting Standards. Ms Keren’s skills complement that expertise; she has nearly 20 years of experience auditing financial statements prepared using IFRS Accounting Standards and helping companies to implement and apply the Standards.

Ms Buchanan is an acknowledged expert on IFRS Accounting Standards, having played leading roles in IASB projects to reform the accounting for leases and revenue recognition and consolidation for almost two decades. She has also led the Foundation’s projects that support consistent application of IFRS Accounting Standards, including managing the work of the IFRS Interpretations Committee. Before joining the IFRS Foundation, Ms Buchanan worked at PwC in Europe.

Ms Keren joins the Foundation from KPMG Israel where she most recently served as Partner. She also served as its Insurance Sector Lead, as well as helping to lead KPMG’s International Standards Group. She brings knowledge and experience in implementing IFRS 17 Insurance Contracts. She was previously on secondment to the IFRS Foundation to establish and manage the IASB’s Transition Resource Group set up to support the implementation of IFRS 17.

Ms Buchanan will fill a European position and Ms Keren an Asia-Oceania position on the IASB. Each appointment is for a five-year term. Ms Buchanan’s term will commence in December 2022 and Ms Keren will join in 2023.

Erkki Liikanen, Chair of the IFRS Foundation Trustees, said:

I am happy with the appointments of Patrina and Hagit. They possess attributes that are essential for the IASB. With this, the composition of the IASB is almost complete.

Andreas Barckow, Chair of the IASB, said:

Both Hagit and Patrina increase the vast range of expertise, skills and diversity of the board. Their technical knowledge and prowess will be invaluable to the development of the work the IASB is doing. I look forward to working with them both.

Patrina Buchanan said:

I’m honoured and excited to take on this new role within the IFRS Foundation and thrilled about using this opportunity as a board member to contribute further to the important work of the IASB in improving financial reporting for capital markets. I look forward to continuing to work closely with colleagues and friends at the IFRS Foundation and to continuing to engage with our stakeholders around the world.

Hagit Keren said:

I'm very excited about the opportunity to play a significant role in this inspiring organisation, setting IFRS Accounting Standards that accommodate the development of financial markets. I am honoured to join the board. I will ensure that the professional experience I bring continues to support the IASB’s important work.

The remaining appointment to the IASB is well underway and will be announced shortly.

In addition, the appointment of a Vice-Chair is expected to be announced by the end of the year.