“I am disappointed that unforeseen personal circumstances will prevent me from taking on this important role,” said Baumann. “I remain impressed with the public interest work that the IAASB has already achieved and continue to see remarkable opportunities for the future.”

Professor Arnold Schilder, whose term as IAASB chairman was scheduled to conclude at the end of 2018, has agreed to stay on through early 2019, as necessary, to ensure a smooth transition to a new chair.