Statement by John J. Brennan, Chairman, Financial Accounting Foundation Board of Trustees

December 20, 2010

On behalf of the Financial Accounting Foundation, our Board of Trustees, and the Financial Accounting Standards Board, we extend our deepest sympathies on the sudden passing of Tommaso Padoa-Schioppa. Although his tenure as Chairman of the Trustees of the IFRS Foundation was brief, his passionate commitment to our shared goal of achieving high-quality global accounting standards will have a lasting impact. We will miss his leadership and friendship, and offer our condolences to his family and to all those whose lives he touched.