Appointment of Professor Tae-Young Paik (SKK Business School)
as the First Member of ISSB
The Financial Services Commission announced on the 15th that the IFRS (International Financial Reporting Standards) has appointed professor Tae-Young Paik (SKK Business School) as the first member of the ISSB (International Sustainability Standards Board).
ISSB is an independent standard-setting organization established by the IFRS Foundation in November last year to establish international standards for sustainability disclosure. The total number of members is 14.
While serving as a professor at SKK Business School, he served as a member of the Ministry of the Interior and Safety’s Financial Accounting Advancement Committee, a member of the Ministry of Economy and Finance’s National Accounting System Review Committee, and the president of Korean Accounting Association.
Professor Paik will be responsible for the establishment of IFRS sustainability disclosure standards at the ISSB for 3 years.
The Financial Services Commission said, “The appointment of Paik is the result of the international recognition and contribution that Korea has formed by actively participating in the activities of the IFRS Foundation.”
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