Bulletin
2001/3 - 5 June 2001
The Financial Reporting Council (FRC) today announced the appointment of Mr Wayne Cameron as a part-time member of the Australian Accounting Standards Board (AASB) for a three year term. Mr Cameron, who is Auditor-General of Victoria, fills a vacancy created by the resignation in mid-March of Dr Doug McTaggart.
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 Deputy Chairman Mr Michael Ullmer congratulated Mr Cameron on his appointment from a strong field of candidates who directly expressed interest in the position or were nominated by stakeholders in the accounting standard setting process.
Mr Ullmer said that Mr Cameron brings to the Board strong technical skills and experience in accounting standard setting in relation to both the private and public sectors.
Mr Cameron has been Auditor-General of Victoria since 1999. Prior to that appointment, he was Deputy Controller and Auditor-General for New Zealand from 1985 to 1999. Between 1977 and 1981, he was head of the New Zealand Audit Office in London, where he was responsible for the audit of New Zealand's public sector interests throughout the northern hemisphere.
Working in the audit offices of Victoria and New Zealand has given Mr Cameron a close knowledge of public sector financial reporting issues and a strong user perspective of accounting standards as they apply to both corporations and government agencies.
Mr Cameron was admitted to membership of the Institute of Chartered Accountants of New Zealand in 1971 and became a Fellow of the Institute in 1991. He was actively involved in the auditing and accounting standard setting processes in New Zealand, serving on a number of the Institute's committees, including as Chairman of the Public Sector Accounting Committee for 7 years, as a member of the Accounting Research and Standards Board (7 years) and, more recently, as Chief Judge of the Institute's Annual Report Awards (4 years).
Mr Ullmer noted that, as part of an on-going process, the FRC will shortly be advertising in the national press seeking expressions of interest from people wishing to be considered for future vacancies on the Board. A list of potential candidates will be maintained based on responses to these advertisements and from names periodically put forward by stakeholder groups.
This list, which will be drawn from as vacancies occur, will reflect the need for balanced expertise from the perspective of preparers, users and auditors of financial statements for both the private and public sectors. Mr Ullmer noted that, in the short term, the FRC was particularly keen to identify potential candidates from an investor / funds management background so as to provide a perspective from one of the key user groups of financial information.
The FRC will shortly be releasing information about the framework for appointments to the AASB, including appointment criteria.
The full membership of the AASB is shown in an attachment.
For further information, please contact the secretariat of the Financial Reporting Council, c/- The Treasury, Langton Crescent, 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;
- Wayne Cameron, BCom, FCA (NZ), FCPA, FIPAA, Auditor-General of Victoria
- George Carter, FCPA, Department of Finance and Administration, Canberra;
- Neil Conn, AO, PhD, MEc, FAIM, FAICD, former Under-Treasurer of the Northern Territory, Darwin;
- Brigid Curran, BCom, MFM, ACA, CPA, Partner, PricewaterhouseCoopers, Melbourne;
- 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.