Cheung, a past president of the Institute and an ExCo member of the government, appointed a trustee of the IASC Foundation, succeeding HKEx chairman Charles Lee. Another past president, P.M. Kam, was named a member of the Standards Advisory Council of the IASB, replacing Mr. Cheung. The appointments were sponsored by the Institute and were accepted in part because Hong Kong is one of the first jurisdictions to fully converge with IFRS issued by IASB. Click
here to see the press release.