The IFRS Foundation has appointed Masamichi Kono as a new trustee, effective July 1 2021.
The IFRS Foundation Trustees are responsible for the governance, oversight and strategy of the Foundation and the International Accounting Standards Board, which sets IFRS Standards. The appointment has been approved by the IFRS Foundation Monitoring Board, to whom the trustees are accountable.
Kono’s career has spanned more than four decades and he has a “wealth” of regulatory, supervisory and policy experience in national authorities and international organisations overseeing global financial institutions and markets.
He is currently serving as deputy secretary general of the Organisation for Economic Cooperation and Development (OECD), where his responsibilities include setting the strategic direction of OECD policy on environment, tax, trade and agriculture, as well as leading financial and enterprise affairs.
He also oversees initiatives on infrastructure and sustainable growth and represents the OECD at the Financial Stability Board.
Kono previously held senior and executive roles at the Ministry of Finance and the Financial Services Agency of Japan. He also served as chairman of the International Organization of Securities Commissions (IOSCO) Technical Committee, and later as chairman of the IOSCO Board. He was also co-chair of the Financial Stability Board’s regional consultative group for Asia and Chair of the IFRS Foundation Monitoring Board from 2013 to 2016.
Erkki Liikanen, chair of the IFRS Foundation Trustees, said: “Masa brings a wealth of experience that is highly relevant to the current work of the IFRS Foundation and to our plans for the future. On behalf of the Foundation and the Trustees, I congratulate Masa on his appointment and look forward to working with him.”
Kono added: “I am honoured and delighted to join the IFRS Foundation as a Trustee and look forward to contributing to its mission of bringing transparency, accountability and efficiency to global financial markets.
“Sustainable finance has been an important topic that I have been working on at the OECD, so I look forward to participating in the ongoing discussions on the critical role of the IFRS Foundation in this area.”