📈 A New Era Begins
Yu Chen’s appointment to the International Accounting Standards Board (IASB) marks a significant milestone, effective January 1, 2026. With over two decades of experience in accounting and standard-setting, she has been instrumental in aligning Chinese Accounting Standards with IFRS Accounting Standards. Chen's extensive involvement in various IASB advisory bodies highlights her deep understanding of global financial reporting.
🌍 Bridging Standards with Expertise
Dr. Chen hails from the Chinese Ministry of Finance, where she recently served as the Deputy Director-General of the China Accounting Standards Committee. Leading a team focused on IFRS Accounting Standards and IFRS Sustainability Disclosure Standards, she proposed technical recommendations that have shaped the future of accounting in China. Her previous role included directing the Accounting Regulatory Department, where she developed and implemented Chinese Accounting Standards and created a mechanism connecting standard-setting, implementation, and supervision.
🔄 Changing of the Guard
Yu Chen steps into her new role following the departure of Ann Tarca, whose second term ended on June 30, and Jianqiao Lu, whose term ends on August 31. Her five-year term promises a fresh perspective and continued excellence in financial reporting. Erkki Liikanen, Chair of the IFRS Foundation Trustees, expressed delight in welcoming Chen, noting her invaluable experience in enhancing global financial reporting. Similarly, Andreas Barckow, Chair of the IASB, highlighted Chen's proven track record in aligning standards and active engagement with advisory bodies.
"We are delighted to welcome Yu Chen to the IASB. Her extensive experience and deep understanding of international and Chinese accounting standards will be invaluable as we continue to enhance global financial reporting." - Erkki Liikanen
🌐 Global Impact
Yu Chen’s appointment is not just a win for the IASB but also for global financial reporting transparency and comparability. Her unique perspective and wealth of knowledge make her an excellent addition to the team. As the IASB transitions to smaller boards with a balanced geographical representation by 2028, Chen’s role will be crucial. The Trustees' decision to reduce board members from 14 to 10 will optimize the board’s functionality while maintaining diversity.
"Yu's appointment brings a wealth of knowledge and a unique perspective to the IASB. Her proven track record in aligning Chinese Accounting Standards with IFRS Accounting Standards and her active engagement with our advisory bodies make her an excellent addition to our team." - Andreas Barckow
"I am honoured to join the IASB and to have the opportunity to contribute to the development of global accounting standards. I look forward to working with my fellow board members to continue the important work of enhancing transparency and comparability in financial reporting worldwide." - Yu Chen
