Tom Seidenstein Reappointed as IAASB Chair

[News]

The International Auditing and Assurance Standards Board (IAASB) is pleased to announce the reappointment of Tom Seidenstein as IAASB Chair for a further three-year term commencing July 1, 2022.

Mr. Seidenstein has chaired the IAASB since July 2019 and has been instrumental in the delivery of milestone projects, such as the new quality management standards, and addressing the issue of standards for less complex entities.

“We are delighted with Tom's reappointment as Chair of the IAASB,” said Linda de Beer, Chair of the Public Interest Oversight Board (PIOB). “He has proven himself to be an effective, strategic leader, who is focused on delivering results in the public interest.  He has the confidence of the PIOB to lead the IAASB on the next chapter of its journey to prioritize standards development in a timely manner to respond to the needs and challenges of the market.”  

The reappointment comes at a pivotal time for the IAASB. The Board has released an ambitious work plan (A Public Interest Focus in Uncertain Times) and is active and engaged on trending topics such as fraud, going concern, sustainability reporting and assurance, and technology.

“It is an honor to continue the work we’ve started at the IAASB,” said Mr. Seidenstein. “Together with a great staff and Board, we’ve delivered on our work plan commitments. We provided real help to the market during the pandemic by publishing real-time guidance to the accountancy profession. Now, as the public interest demands evolve with issues such as sustainability assurance and technological innovation, the IAASB must remain resolute in delivering globally accepted standards in a timely manner that respond to changing public interest needs. I’m excited for the next three years!”

Prior to joining the IAASB, Mr. Seidenstein has held senior strategic leadership positions at the Federal National Mortgage Association, commonly known as Fannie Mae, and the IFRS Foundation. Mr. Seidenstein has also served as a Trustee of the International Valuation Standards Council (IVSC) and on XBRL International’s Board of Advisors. He holds a Master in Public Policy from the Kennedy School of Government at Harvard University and an undergraduate degree from the School of Public and International Affairs at Princeton University.

About the IAASB

The International Auditing and Assurance Standards Board develops auditing and assurance standards and guidance for use by all professional accountants under a shared standard-setting process involving the Public Interest Oversight Board, which oversees the activities of the IAASB, and the IAASB Consultative Advisory Group, which provides public interest input into the development of the standards and guidance. The structures and processes that support the operations of the IAASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.

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