Trustees of the IFRS Foundation have appointed Hans Hoogervorst, chairman of the Netherlands Authority for the Financial Markets and a former Dutch finance minister, to succeed David Tweedie as chairman of the International Accounting Standards Board. Hoogervorst will be integral in converging international accounting standards with US rules. "I strongly believe that a global set of accounting standards ... is an essential component for the world's financial markets," Hoogervorst said.

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