The Chairman of the Financial Services and Markets Authority (FSMA), Mr Jean-Paul Servais, has been appointed by IOSCO as Co-Chair of the Monitoring Group.
As the Vice-Chair of the Board of the International Organization of Securities Commissions (IOSCO), the Chairman of the FSMA, Jean-Paul Servais, also chairs the Monitoring Board of the IFRS Foundation.
He was appointed Co-Chair of the Monitoring Group, alongside Mr Sagar Teotia, Chief Accountant of the US Securities and Exchange Commission.
The Monitoring Group is a body that consists of a group of international institutions and financial regulatory bodies committed to advancing the public interest in areas related to international audit standard setting and audit quality. Its members include the World Bank, the European Commission, the Basel Committee on Banking Supervision and the Financial Stability Board (FSB).
Jean-Paul Servais: “I feel privileged to take on the role of Monitoring Group Co-Chair together with Sagar at this critical juncture in the implementation of important reforms in international audit standard setting. I look forward to working closely with my Monitoring Group colleagues towards our shared goals of an independent and efficient audit standard-setting process that serves the public interest. This appointment attests to the confidence shown in the FSMA, which also hosts the Belgian Audit Oversight College.”
We invite you to consult the press release published by the Monitoring Group, which provides further details about the Group’s mission.