Thomas R. Seidenstein will become the new chair of the International Auditing and Assurance Standards Board (IAASB) for a three-year term commencing 1 July 2019. He succeeds Professor Arnold Schilder, who has led the IAASB since 2009. The appointment was recommended by the Interim Nominating Committee after an extensive international search and was endorsed by the IFAC Board and approved by the Public Interest Oversight Board, which oversees the IAASB.

“I am honored to be selected as the IAASB’s next chair,” Mr. Seidenstein said. “Adopted and implemented worldwide, international standards on audit and assurance are a critical support to global financial market stability. I look forward to working with IAASB members, technical staff, and the leadership of other standard-setting boards to further strengthen cross-sectoral collaboration on key public interest issues and address emerging stakeholder needs. Together, we will advocate tirelessly for relevant standards that facilitate high-quality audit and assurance engagements.”

Mr. Seidenstein’s career spans both international standard setting and the private sector. He is currently senior vice president for Strategy, Innovation and Capital Management at Fannie Mae, a leading source of US housing market liquidity. He previously served as the chief operating officer at the International Financial Reporting Standards Foundation, where he led the organization’s governance review and reform process and worked closely with regulators to support global adoption of International Financial Reporting Standards. He holds a Master in Public Policy from the Harvard Kennedy School and is an undergraduate of the Woodrow Wilson School of Public and International Affairs, Princeton University.