The International Federation of Accountants has selected Fayezul Choudhury as its new CEO, succeeding Ian Ball, whose contract expires next February.
Choudhury previously worked for the World Bank, where his last two assignments were as vice president of corporate finance and risk management; and controller and vice president of strategic planning and resource management.
In the latter role he was the World Bank's spokesperson on global accounting and auditing issues. Choudhury started his career in 1974 with Price Waterhouse in London, initially in public accounting and later management consulting. While at Price Waterhouse, he spent three years in Nigeria, developing the consulting practice in that region. He was recruited for IFAC after an extensive global search led by an executive search firm.
“I am honored to have been selected for this position,” Choudhury said in a statement. “I firmly believe that accountancy is one of the core professions that anchor the functioning of modern societies and, as such, the role of IFAC is critically important.”
As head of IFAC, he will be overseeing an accounting organization with members and associates in 127 countries. The American Institute of CPAs is a member body of IFAC.
Choudhury has served on a number of high-level representative bodies He was a member of the Public Interest Oversight Board from its formation in 2005 until 2010. The PIOB was established to ensure that international auditing and assurance, ethics, and education standards for the accountancy profession are set in a transparent manner that reflects the public interest. Choudhury also chaired the Global Steering Committee of the International Forum for Accountancy Development and was a member of the Standards Advisory Council of the International Accounting Standards Board. He served as a member of the Iraq Advisory and Monitoring Board established by the Security Council of the United Nations.
Choudhury has an MA (Hons) in Engineering Science and Economics from the University of Oxford. He is also a fellow of the Institute of Chartered Accountants of England and Wales.
“Fayez has more than 36 years of experience in the accountancy profession,” said IFAC president Göran Tidström. “He brings a strong understanding of the role of accounting in organizations and knowledge of the issues surrounding the global profession. He was instrumental in the discussions that led to the creation of the current private/public sector governance arrangements for international standard-setting and has extensive knowledge of IFAC through his work in the PIOB. We are very happy to welcome Fayez to this new role.”
