Patricia O'Malley named as IFRIC Co-ordinator

Patricia O'Malley completes her term as a member of the IASB on June 30, 2007. Effective July 2007, she will become the IFRIC Co-ordinator which is the senior staff person for the International Financial Reporting Interpretations Committee (IFRIC). IFRIC's role is to “interpret the application of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) and provide timely guidance on financial reporting issues not specifically addressed in IAS and IFRS, in the context of the IASB Framework.” Ms O'Malley is a former chair of the Canadian Accounting Standards Board and member of Canada’s Emerging Issues Committee.