He will take over from Françoise Flores whose second term comes to an end on 31 March 2016.
Watchman, who is an ICAEW member, brings to the role 28 years’ experience in financial reporting and audit. He has served as accountancy adviser to the then Department of Trade and Industry (now the Department for Business, Innovation and Skills) and is currently a member of the IFRS interpretations committee.
Acting president of the EFRAG board Roger Marshall said, “The EFRAG board is delighted to have identified a worthy successor to Françoise Flores to take over at the end of her second term.
“Andrew’s experience will be invaluable in helping EFRAG to continue to meet its twin mission of providing a strong European voice in the development of IFRS and providing high quality endorsement advice to the European Commission.”
EFRAG (the European Financial Reporting Advisory group) has recently established a new governance structure but the brief of the technical expert group will remain the same – providing independent technical analysis and arguments to help the EFRAG board reach positions on financial reporting with the aim of ensuring that Europe speaks with one voice.