IVSC Trustee, Tom Seidenstein has been appointed as the new Chair of the International Auditing and Assurance Standards Board (IAASB). Tom will take up the new role for a period of three years from 1 July 2019. He will step down from the IVSC Board of Trustees at the same time.

“We are delighted that Tom has been appointed to this prestigious and important role with the IAASB. He has contributed significantly to the IVSC during his time as a trustee and we are grateful for his dedication and support during this period. As Tom steps down from his position on the board of trustees we wish him well and look forward to our continued collaboration through the IVSC’s participation in the IAASB’s Consultative Advisory Group.” Sir David Tweedie, Chair of the IVSC Board of Trustees

“I’m humbled and excited to be selected as the new IAASB Chair – a position I will formally commence on July 1.  While the role’s independence means stepping down as IVSC Trustee, I’m looking forward to the council’s continued advice to the IAASB via Mauro Bini’s, who sits on the IAASB’s Consultative Advisory Group. Valuation plays an increasingly relevant role financial statements preparation, and I’ve greatly appreciated my time as an IVSC Trustee. We will continue to share many interests, but above all:  the public interest.” Tom Seidenstein, Chair of the IAASB

The International Auditing and Assurance Standards Board (IAASB) is an independent standard-setting body that serves the public interest by setting high-quality international standards for auditing, quality control, review, other assurance, and related services, and by facilitating the convergence of international and national standards.

Tom Seidenstein was previously Senior Vice President, Strategy, Innovation, and Capital at Fannie Mae. In that role, Mr. Seidenstein led Fannie Mae’s corporate strategy and innovation team. Prior to joining Fannie Mae, Mr. Seidenstein was Chief Operating Officer at the IFRS Foundation, the London-based body responsible for developing International Financial Reporting Standards. Whilst there, he managed key policy and regulatory relationships for the organisation and established the financing mechanism to support its operations.