05 February 2010
Published in: Accounting - tax
Ex-insurance executive appointed to IASB
Dr Elke Koenig, former member of the executive board and CFO of Hannover Re Group, has become a member of the International Accounting Standards Board (IASB), along with Darrell Scott, CFO of the FirstRand Banking Group (South Africa).
They will begin their five-year terms as full-time members of the IASB in July and October 2010 respectively. The appointments fill vacancies that will be created by the retirement of Robert Garnett and Gilbert Gélard at the end of June 2010.
Dr Koenig will become the only member of the 15-strong board with experience in the insurance industry, although, according to an IASB spokesperson, other members have experience of insurance accounting.
From 2002 to 2009 Koenig served as CFO of Hannover Re Group, and she has been a member of the CFO Forum of European insurers, where she has been actively engaged in the IASB's project on insurance contracts.