Professor Schilder resigns from DNB

by Richard Kilner

Story link: Professor Schilder resigns from DNB

De Nederlandsche Bank has announced the resignation of Professor Arnold Schilder effective from 1 January 2009.

In his role as executive director, his primary area of responsibility was supervision of banking.

Carrying out his duties, he was chairman of the Basel Committee on Banking Supervision (BCBS) Accounting Task Force for 8 years.

During his time with the bank he was also a member of the Committee of European Banking Supervisors (CEBS) and the Public Interest Oversight Board (PIOB), and chaired the European Interim Working Committee on Financial Conglomerates (IWCFC).

Professor Schilder has been a member of the firm’s governing board since 1998, and parts ways with the bank to assume the post of chairman of the New York-based International Auditing and Assurance Standards Board (IAASB).

The IAASB is involved in work developing auditing standards which it then issues across the globe.

President Nout Wellink has described Professor Schilder’s departure as a loss for the industry generally, and for the DNB in particular.

Wellink went on to express his pride that Professor Schilder would be assuming the prestigious role of IAASB chairman.