Stavros Thomadakis Extends Term as IESBA Chairman

[News]

(New York, New York, May 1, 2020) – The International Ethics Standards Board for Accountants (IESBA) is pleased to announce the extension of Dr. Stavros Thomadakis as IESBA Chairman until the end of 2021. This appointment was proposed by the International Federation of Accountants Nominating Committee and recently approved by the Public Interest Oversight Board.  

Dr. Thomadakis has chaired the IESBA since 2015. Under his leadership, the IESBA finalized the restructured and enhanced International Code of Ethics for Professional Accountants (including International Independence Standards) and launched a digital version – the eCode. Dr. Thomadakis’ dedication and commitment to the public interest is reflected in IESBA’s comprehensive Strategy and Work Plan 2019–2023 (SWP). Already, IESBA has reached key milestones in this SWP, including progress in its Non-Assurance Services and Fees projects.

“I am honored to continue to lead the IESBA for a final term.” said Dr. Thomadakis. “We’ve gained considerable momentum with respect to global adoption of the IESBA Code, with approximately 80 countries adopting or in process of adopting the restructured 2018 version, and I am keen on expanding that further. In addition to pursuing IESBA’s priority standard-setting projects in the public interest, a key activity will be to assist IESBA’s stakeholders as they navigate the unprecedented challenges and ethical dilemmas arising from the COVID-19 pandemic. In this regard, the IESBA is working to expand its cooperation with others, including its ongoing coordination with the International Auditing and Assurance Standards Board (IAASB).”

Dr. Thomadakis is Emeritus Professor of financial economics at the University of Athens and an active member of the Hellenic Council for Corporate Governance, and of the Board of Trustees of the Cyprus Institute. He has taught at US universities (Baruch College CUNY, MIT), and has been a visiting scholar at Stern School of Business, NYU, and Yale University. He also served in many leadership roles, including as the first Chairman of the Public Interest Oversight Board (2005 to 2011) and Chairman of the Hellenic Capital Market Commission (1996-2004). Until late 2015, he also served as a member of the Securities and Markets Stakeholders Group of the European Securities and Markets Authority.

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