Julia Irvine 7 Apr 2017 12:43pm

IAASB's Schilder gets "exceptional extension" to term

The chairman of the International Auditing and Assurance Standards Board (IAASB) is to stay on for an extra year even though his term in office is due to end this year

The Public Interest Oversight Board (PIOB), which oversees the board’s activities, has made the “exceptional extension” to Arnold Schilder’s term so that he can see through to completion the review of potential enhancements to international standard-setting arrangements that is being carried out by key stakeholders.

Schilder, who has been in post since 2009, is credited with driving the board’s success in enhancing the quality and consistency of auditing and assurance practices around the world.

Commenting on the extension, he said, We are now in the midst of intense deliberations on changes to a number of fundamental standards underpinning high-quality audits, including those addressing accounting estimates, auditor risk assessments, group audits and quality control.

“In addition, we are continuing our work on the implications of data analytics, professional scepticism, emerging forms of external reporting, and the needs of small- and medium-sized entities.”

Schilder took on the chairmanship role after a successful career spent first as an auditor in the Netherlands and a part time professor in auditing at Amsterdam and Maastricht universities, and then in banking.

He was a member of the managing board of the Dutch Central Bank with responsibility for banking regulation and supervision and chairman of the Basel Committee on Banking Supervision’s accounting task force. He was also nominated by the Basel committee to be a member of the PIOB when it was first set up.