By Michael Foster, Big4.com Blogger

James Quigley, former CEO of Deloitte, will help run the International Financial Reporting Standards Foundation as a trustee for the body in charge of developing accounting standards in the public interest.

Quigley, who has worked for Deloitte for 37 years and remains a senior partner of the firm, stepped down as CEO in 2011 after serving in the role for four years. He will now be in charge of overseeing the work of accountants at Deloitte and other Big4 firms as an IFRS Foundation Trustee. He will serve in the roll immediately and his tenure will end at the end of 2014, with the possibility of one renewal.

On his new role, Quigley emphasized his hope that the IFRS could expand its reach internationally. “”I look forward to working with Michel Prada and my fellow Trustees in what I expect will be a challenging period for the organization. I share the hope of many that the United States and Japan advance the incorporation of IFRS into their respective financial reporting requirements,” he said.

Current Deloitte CEO Berry Salzberg noted that the appointment demonstrates Deloitte’s prominence and strong reputation in the accounting world. “I believe that this appointment reflects the eminence that the Deloitte network has achieved in the world of IFRS,” he said.

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