Bulletin
2000/7 - 21 December 2000
The Financial Reporting Council (FRC) today announced the appointment of Mr Kevin Stevenson as a member of the Australian Accounting Standards Board (AASB) for a three year term. Mr Stevenson, who is director of the accounting firm Stevenson McGregor, fills a vacancy created by the resignation in mid-October of Mr Ian Mackintosh to take up the position of Chief Accountant at the Australian Securities and Investments Commission.
The FRC is the peak body responsible for the broad oversight of the accounting standard setting process for the private and public sectors. It comprises key stakeholders from the business community, the professional accounting bodies, governments and regulatory agencies. Under the Australian Securities and Investments Commission Act 1989, the FRC is responsible for appointing members of the AASB other than the Chairman who is appointed by the Treasurer.
FRC Chairman Mr Paul Rizzo congratulated Mr Stevenson on his appointment from a strong field of candidates nominated by stakeholders in the accounting standard setting process.
Mr Rizzo said that Mr Stevenson brings to the Board strong technical skills and extensive experience in accounting standard setting in relation to both the private and public sectors. Before establishing his own firm (with Mr Warren McGregor) in 1999, he was the Senior Technical Partner for PricewaterhouseCoopers in Australia from 1998 to 1999, and its legacy firm Coopers and Lybrand from 1989 to 1998. He also served a period as national partner for the government and services industry. From 1979 to 1989, he was Executive Director of the Australian Accounting Research Foundation which at that time provided secretariat support for the standard setting arrangements for both the private and public sectors.
Mr Stevenson was recently appointed as Adjunct Professor, Department of Commerce, University of Queensland.
Mr Stevenson was a member of the Urgent Issues Group (UIG) from 1994 to 1999 and is currently an observer on the UIG in his capacity as Australian representative on the Standing Interpretations Committee of the International Accounting Standards Committee (IASC). The UIG is a committee of the AASB with responsibility for reviewing, in the context of accounting standards and statements of accounting concepts, accounting issues that are likely to receive divergent or unacceptable treatment in the absence of authoritative guidance.
From 1996 to 1998, Mr Stevenson was a consultant to the then AASB and PSASB, assisting their implementation of the program of harmonisation of Australian Accounting Standards with IASC standards. He authored a number of exposure drafts as part of that program and has also written many articles on standard setting issues.
Mr Stevenson has been a member of the IASC Standing Interpretations Committee since 1997, a member of the IASC's Steering Committee on accounting for leases since 1996, and provided technical support to Australian representatives to the IASC from 1976 to 1989. His international experience has also included a period as Secretary to the Bishop Committee which reviewed the operations of the International Federation of Accountants and the IASC.
The full membership of the AASB is shown in an attachment.
Mr Rizzo expressed his appreciation for the major contribution Mr Mackintosh had made to accounting standard setting over many years - including as Deputy Chairman of the reconstituted AASB and Chairman of the previous PSASB - and wished him well in his new role.
For further information, please contact the secretariat of the Financial Reporting Council, c/- The Treasury, Parkes Place, Parkes ACT 2600.
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Mr Michael Kooymans |
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Ph: |
(02) 6263 3984 |
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Fax: |
(02) 6263 2770 |
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E–mail: |
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ATTACHMENT
Members of the Australian Accounting Standards Board
The full-time Chairman of the AASB, appointed by the Treasurer is:
- Keith Alfredson, BCom, FCA, FCPA, FAICD
The part-time members of the AASB, appointed by the Financial Reporting Council, are:
- Peter Batten, FCPA, FCCA, Group Accounting Adviser, WMC Resources Limited, Melbourne;
- George Carter, FCPA, Department of Finance and Administration, Canberra;
- Neil Conn, AO, PhD, MEc, FAIM, FAICD, until recently Administrator of the Northern Territory and previously Under-Treasurer of the Northern Territory, Darwin;
- Brigid Curran, BCom, MFM, ACA, CPA, Partner, PricewaterhouseCoopers, Melbourne;
- Douglas McTaggart, PhD, MA, BEc(Hons), FAICD, Chief Executive Officer, Queensland Investment Corporation, Brisbane
- Graham Peirson, MEc, FCPA, Professor of Accounting and Finance, Monash University, Melbourne;
- Ruth Picker, BA, FCA, ASIA, Partner, Ernst and Young, Melbourne;
- Kevin Stevenson, MBA, BCom, FCA, director, Stevenson McGregor, Melbourne;
- Greg Ward, MEc, ACA, Executive Director, Chief Financial Officer, Macquarie Bank, Sydney.