Two leading investment analysts in the US have been appointed to the International Accounting Standards Board by the Trustees of the International Accounting Standards Committee.
Patrick Finnegan, director of the financial reporting policy group at the CFA Institute Centre for Financial Market Integrity and Patricia McConnell, the former senior managing director of equity research, accounting and tax policy at Bear Stearns, will become full-time members for a five-year term beginning on 1 July.
The appointments will see them replace Mary Barth and Tom Jones who are set to retire at the end of June.
Finnegan's duties at the CFA Institute involve providing user input into the standard-setting activities of the IASB, its US counterpart the Financial Accounting Standards Board and key regulatory bodies. Previous roles include managing director in Moody's corporate finance group.
McConnell has 32 years' experience working in Bear Stearns' equity research group and is one of the leading analysts in the US on accounting related issues.
Gerrit Zalm, chairman of the Trustees, said: 'The Trustees have consistently received the message from the investment community about the need to enhance the user perspective on the IASB. In Patrick Finnegan and Patricia McConnell we have identified two highly qualified people who understand both the technical accounting issues and the needs of investors. The Trustees are delighted that they have agreed to join the IASB, and we welcome them to the organisation.'