London (Sept. 23, 2002) -- John T Smith, a partner in the national office of Deloitte & Touche, has been appointed as a part-time member of the International Accounting Standards Board, the group charged with developing a single set of international accounting standards.

He replaces Robert Herz, who resigned in June to become chairman of the Financial Accounting Standards Board. Smith's five-year term begins Oct. 1. He currently serves as director of accounting policies for Deloitte & Touche, where he is responsible for preparing his firm’s responses to accounting standard-setting initiatives in the United States. He also participates in responding to IASB standard-setting initiatives as a member of the Deloitte Touche Tohmatsu international accounting committee.

Smith also represents Deloitte & Touche on the Emerging Issues Task Force of the FASB. He was a member of the FASB’s Derivatives Implementation Group and Financial Instruments Task Force.

He will resign his post as a member of the International Financial Reporting Interpretations Committee, the 12-member body responsible for issuing interpretations of International Financial Reporting Standards under the supervision of the IASB.

-- Electronic Accountant Newswire staff

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