International Federation of Accountants CEO Ian Ball has stepped down after 10 years, but will continue in a volunteer capacity as principal advisor, while remaining a member of the board and chair of the working group of the International Integrated Reporting Council.

Succeeding him is Fayezul Choudhury, a former World Bank executive and member of the Public Interest Oversight Board (see IFAC Appoints Fayezul Choudhury as New CEO). Choudhury assumed the role of IFAC CEO on Feb. 1, 2013 with the expiration of Ball’s contract. IFAC announced his role as principal advisor on Friday.

During Ball’s tenure as CEO, IFAC’s presence, outreach and global influence grew, addressing the challenges the accountancy profession faced during a turbulent period for both the profession and the global economy. A vocal proponent of transparency in government management and financial reporting, Ball also fostered the debate defining the public interest; shaped the case for, and advocated the importance of, convergence of global professional standards; and played a key role in developing the arrangements between the accountancy profession and the regulatory community for oversight of the independent standard-setting boards in auditing and assurance, ethics and accounting education. The American Institute of CPAs is a member of IFAC.

“It was a real privilege to lead IFAC during a period of great challenge and great opportunity for the global accountancy profession,” Ball said in a statement. “As integrated reporting receives more and more attention and the IIRC continues to make significant progress, I am looking forward to focusing on these new endeavors and working with the IIRC and IFAC.”

Ball’s accomplishments have been recognized throughout the profession. He is a recipient of the Chartered Institute of Public Finance and Accountancy’s President’s Medal and the New Zealand Institute of Chartered Accountants’ Life Membership distinction.

"As the CEO of IFAC during a critical time for the international profession, Ian Ball’s leadership has served as a catalyst for a decade of momentum and achievement,” said IFAC president Warren Allen. “Thanks to Mr. Ball, as a global organization, IFAC has never been better positioned as an authoritative, highly respected voice on global economic issues.”